Recently, the GBP/USD pair has been trading downwards. The price tested the level of 1.4107. According to the Daily time – frame, I found a reversal up-thrust bar in the background, which is a sign that sellers took control from the buyers. I also found a fake breakout of yesterday's high in the background, which is another sign of weakness. My advice is to watch for potential selling opportunities. The downward target is set at the price of 1.4000.
Resistance levels:
R1: 1.4196
R2: 1.4250
R3: 1.4350
Support levels:
S1: 1.4040
S2: 1.3939
S3: 1.3885
Trading recommendations for today: watch for potential selling opportunities.
