Recently, the GBP/USD has been trading sideways at the price of 1.3025 According to the 30M time frame, I found that strong supply entered the market in the background. Today, I found no demand bars and up-thrust bars, which is a sign that sellers are in control. My advice is to watch for potential selling opportunities. The downward targets are set at the price of 1.3005, 1.2990 and 1.2945.
Resistance levels:
R1: 1.3065
R2: 1.3080
R3: 1.3110
Support levels:
S1: 1.3025
S2: 1.3000
S3: 1.2985
Trading recommendations for today: watch for potential selling opportunities.
