Recently, the GBP/USD pair has been trading upwards. As I expected, the price tested the level of 1.2845. According to the M30 time – frame, I found that price is trading inside the rising regression channel, which is a sign that buyers are in control. I also found oversold conditions on the stochastic, which is another sign of strength. My advice is to watch for buying opportunities with take profit at 1.2887.
Resistance levels:
R1: 1.2820
R2: 1.2845
R3: 1.2890
Support levels:
S1: 1.2750
S2: 1.2705
S3: 1.2680
Trading recommendations for today: watch for potential buying opportunities.
