Recently, the GBP/USD has been trading sideways at the price of 1.2825. According to the 4H time frame, I found a strong sign of the weakness at the background and my advice is to watch for selling opportunities. There is a wide spread bar which closed well off the high. Critical resistance is set at the price of 1.2840. The first downward target is set at the price of 1.2755.
Resistance levels:
R1: 1.2850
R2: 1.2860
R3: 1.2895
Support levels:
S1: 1.2790
S2: 1.2770
S3: 1.2745
Trading recommendations for today: watch for potential selling opportunities.
