Recently, the GBP/USD pair has been trading upwards. The price tested the level of 1.3346. Anyway, according to the H1 time – frame, I still expect downward continuation. I have found a potential bearish flag in creation, which is a sign that buying looks risky. My advice is to watch for a potential breakout of the support trendline to confirm further downward continuation. The downward target is set at the price of 1.3200.
Resistance levels:
R1: 1.3320
R2: 1.3350
R3: 1.3390
Support levels:
S1: 1.3250
S2: 1.3215
S3: 1.3185
Trading recommendations for today: watch for potential selling opportunities.
