Recently, the GBP/USD pair has been trading sideways at the price of 1.2920. According to the daily time frame, I found a fake breakout of 20 days high in the background, which is a sign tha buying looks risky. My advice is to watch for selling opportunities. The downward targets are set at the price of 1.2825 and 1.2760. The short-term trend is upward but I found that buyers lost power and that we may see at least a pullback.
Resistance levels:
R1: 1.2975
R2: 1.2990
R3: 1.3015
Support levels:
S1: 1.2925
S2: 1.2910
S3: 1.2885
Trading recommendations for today: consider potential selling opportunities.
