Recently, the GBP/USD has been trading downwards. The price tested the level of 1.4035. According to the M30 time frame, I found strong supply on the market, which is a sign that buying looks risky. I also found today a successful rejection of the resistance at the price of 1.4068, which is another sign of weakness. My advice is to watch for potential selling opportunities. The downward target is set at the price of 1.3980.
Resistance levels:
R1: 1.4195
R2: 1.4310
R3: 1.4373
Support levels:
S1: 1.4018
S2: 1.3955
S3: 1.3840
Trading recommendations for today: watch for potential selling opportunities.
