Recently, the GBP/USD has been trading upwards. The price tested the level of 1.3212. Anyway, according to the H4 time – frame, I found the successful rejection of the upper band (Keltner channel), which is a sign that buying looks risky. I also found a hidden bearish divergence on the LBR oscillator, which is another sign of weakness. My advice is to watch for potential selling opportunities. The downward target is set at the price of 1.3075.
Resistance levels:
R1: 1.1763
R2: 1.1788
R3: 1.1837
Support levels:
S1: 1.1689
S2: 1.1640
S3: 1.1615
Trading recommendations for today: watch for potential selling opportunities.
