Recently, the GBP/USD pair has been trading downwards. The price tested the level of 1.2828. Anyway, according to the M30 time – frame, I found a rejection of the weekly pivot at the price of 1.2837, which is a sign that selling looks risky. I also found a rising trendline and the oversold condition on the stochastic oscillator, which is another sign of strength. My advice is to watch for buying opportunities. The upward targets are set at the price of 1.2880 and at the price of 1.2923.
Resistance levels:
R1: 1.2885
R2: 1.2923
R3: 1.2966
Support levels:
S1: 1.2840
S2: 1.2760
S3: 1.2723
Trading recommendations for today: watch for potential buying opportunities.
