Recently, the GBP/USD pair has been trading sideways at the price of 1.4070. Anyway, accorrding to the 1H time frame, I found that price did a successful re-test of the support in the background, which is a sign that buyers are in control. I also found a rejection of Fibonacci retracement 50% at the price of 1.3995, which is another sign of strength. My advice is to watch for potential buying opportunities. The upward target is set at the price of 1.4175.
Resistance levels:
R1: 1.4050
R2: 1.4100
R3: 1.4135
Support levels:
S1: 1.3965
S2: 1.3932
S3: 1.3880
Trading recommendations for today: watch for potential buying opportunities.
