Recently, the GBP/USD pair has been trading upwards. The price tested the level of 1.3616. Anyway, according to the 5M time frame, I found that there is a hidden bearish divergence on the MACD oscilator, which is a sign that buyers became exhausted. My avice is to watch for potential selling opportunties today. The downward targets are set at the price of 1.3530, 1.3500 and 1.3475. Another warning for buyers at this stage is that ATR went to extreme.
Resistance levels:
R1: 1.3580
R2: 1.3630
R3: 1.3720
Support levels:
S1: 1.3440
S2: 1.3350
S3: 1.3300
Trading recommendations for today: watch for potential selling opportunities.
