Recently, the GBP/USD pair has been trading upwards. The price tested the level of 1.2826. According to the M15 time – frame, I found a trap up move after the average Earnings Index 3m/y came 2.4%. I also found a rejection of resistance 2 at the price of 1.2823 and rejection of the upper diagonal (resistance), which is a sign that buyers got exhausted. My advice is to watch for potential selling opportunities. The downward targets are set at the price of 1.2704 and at the price of 1.2675.
Resistance levels:
R1: 1.2796
R2: 1.2823
R3: 1.2857
Support levels:
S1: 1.2735
S2: 1.2700
S3: 1.2675
Trading recommendations for today: watch for potential selling opportunities.
