Recently, the GBP/USD pair has been trading upwards. The price tested the level of 1.4375. Anyway, I found rejection of the upper diagonal of the upward channel, which is a sign that GBP/USD is in potential bearish correction. The short – mid term trend is still bullish and my advice is to buy on dips. Support level is set at the price of 1.4297 (previous swing high). My advice is to wach for potential buying opportunities. The upward target is set at the price of 1.4375.
Resistance levels:
R1: 1.4379
R2: 1.4420
R3: 1.4493
Support levels:
S1: 1.4264
S2: 1.4190
S3: 1.4150
Trading recommendations for today: watch for potential buying opportunities.
