Recently, the GBP/USD has been trading sideways at the price of 1.2735. The analysis from yesterday is still active. According to the 4H time frame, I found the bullish Wolfe Wave pattern and a potential double bottom formation, which is a sign that selling looks risky. My advice is to watch for potetnial buying opportunities. The upward targets are set at the prcie of 1.3000 and 1.3050.
Resistance levels:
R1: 1.2795
R2: 1.2840
R3: 1.2915
Support levels:
S1: 1.2675
S2: 1.2600
S3: 1.2555
Trading recommendations for today: watch for potential buying opportunities.
