Recently, the GBP/USD pair has been trading upwards. As I expected, the price tested the level of 1.3607 in an ultra high volume. Anyway, according to the 30M time frame, I found a wide spread bar and buying climax in the background, which is a sign that buying at this stage looks risky. There is also a fake breakout of yesterday's high, which is another sign of weakness. My advice is to watch for potential selling opportunities. The downward targets are set at the price of 1.3470 and 1.3400.
Resistance levels:
R1: 1.3548
R2: 1.3560
R3: 1.3570
Support levels:
S1: 1.3525
S2: 1.3515
S3: 1.3505
Trading recommendations for today: watch for potential selling opportunities.
