Recently, the GBP/USD pair has been trading upwards. The price tested the level of 1.3128. Anyway, according to the H1 time – frame, I found potential buying climax in the background, which is a sign that buying looks risky. I also found a rejection of the supply trendline (resistance), which is another sign of weakness. My advice is to watch for potential selling opportunities. The downward targets are set at the price of 1.3035 and at the price of 1.2960.
Resistance levels:
R1: 1.3147
R2: 1.3190
R3: 1.3222
Support levels:
S1: 1.3072
S2: 1.3040
S3: 1.2997
Trading recommendations for today: watch for potential selling opportunities.
