Recently, the GBP/USD has been trading downwards. As I expected, the price tested the level of 1.3919. Anyway, according to the M15 time frame, I found a potential end of the bullish corrective phase (ABC), which is a sign that buying looks risky. The trend is still bearish and my advice is to watch for potential selling opportunities. The downward target is set at the price of 1.3865.
Resistance levels:
R1: 1.4005
R2: 1.4070
R3: 1.4110
Support levels:
S1: 1.3900
S2: 1.3860
S3: 1.3795
Trading recommendations for today: watch for potential selling opportunities.
