Recently, the GBP/USD pair has been trading sideways at the price of 1.3505. According to the 15M time frame, I found lower lows and lower highs, which is a sign that sellers are in control. There is also an overbouth zone on RSI oscilator, which is another sign of weakness. My advice is to watch for potential selling opportunities. The downward target is set at the price of 1.3450.
Resistance levels:
R1: 1.3565
R2: 1.3600
R3: 1.3625
Support levels:
S1: 1.3510
S2: 1.3480
S3: 1.3450
Trading recommendations for today: watch for potential selling opportunities.
