Recently, the GBP/USD has been trading downwards. The price tested the level of 1.2975. Anyway, according to the H1 time – frame, I found that price has stopped at the support 1 (1.2977), which is a sign that selling looks risky. I also found a hidden bullish divergence on the stochastic oscillator, which is another sign of strength. My advice is to watch for potential buying opportunities. The upward targets are set at the price of 1.3012 and at the price of 1.3050.
Resistance levels:
R1: 1.3090
R2: 1.3163
R3: 1.3200
Support levels:
S1: 1.2980
S2: 1.2940
S3: 1.2868
Trading recommendations for today: watch for potential buying opportunities.
