Recently, the GBP/USD pair has been trading sideways at the price of 1.3505. According to the H1 time – frame, I found that price is trading inside of the downward channel. My advice is to watch for a potential breakout of the intraday upward trendline to confirm a further downward movement. If you see a valid breakout of intraday trendline, watch for selling opportunities. The downward target is set at the price of 1.3450.
Resistance levels:
R1: 1.3562
R2: 1.3613
R3: 1.3657
Support levels:
S1: 1.3467
S2: 1.3432
S3: 1.3372
Trading recommendations for today: watch for potential selling opportunities.
