Recently, the GBP/USD has been trading upwards. The price tested the level of 1.4222. Anyway, according to the 30M time – frame, I found a potential rising wedge in creation, which is a sign that buying looks risky. I also found a hidden bearish divergence on the LBR oscillator in the background, which is another sign of weakness. My advice is to watch for potential selling opportunities if you see a breakout of a lower diagonal. The downward target is set at the price of 1.4080.
Resistance levels:
R1: 1.4202
R2: 1.4225
R3: 1.4270
Support levels:
S1: 1.4135
S2: 1.4095
S3: 1.4066
Trading recommendations for today: watch for potential selling opportunities.
