GBP/USD analysis for September 21, 2017

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Recently, the GBP/USD pair has been trading downwards. As I expected, the price tested the level of 1.3451 in an ultra high volume. According to the 30M time frame, I found a selling climax in the background and weak selling today, which is a sign that selling looks risky. I found a breakout of the overnight trading range, which is another sign of potential strength. My advice is to watch for potential buying opportunities. The upward targets are set at the price of 1.3530, 1.3555, and 1.3575. All targets are based on Fibonacci work.

Resistance levels:

R1: 1.3512

R2: 1.3530

R3: 1.3545

Support levels:

S1: 1.3480

S2: 1.3465

S3: 1.3450

Trading recommendations for today: watch for potential buying opportunities.

The material has been provided by InstaForex Company - www.instaforex.com