Recently, the GBP/USD pair has been trading upwards. As I expected, the price tested our first target level at 1.2760. According to the 4H time frame, I still expect higher price. The GBP/USD pair is in the short-term uptrend and my advice is to watch for buying opportunities. In the background I found a successful test of supply, which is a good sign for higher price. The next downward target is set at the price of 1.2805.
Resistance levels:
R1: 1.2765
R2: 1.2780
R3: 1.2800
Support levels:
S1: 1.2725
S2: 1.2700
S3: 1.2690
Trading recommendations for today: watch for potential buying opportunities.
