GBP/USD analysis for October 10, 2017


Recently, the GBP/USD pair has been trading upwards. The price tested the level of 1.3203. According to the 30M time - frame. I found a fake breakout of yesterday's high at the price of 1.3185, which is sign that buying looks risky. I also found a hidden bearish divergence on the RSI (21), which is another sign of weakness. My advice is to watch for potential selling opportunities. The downward targets are set at the price of 1.3125 and 1.3032.

Resistance levels:

R1: 1.3200

R2: 1.3220

R3: 1.3240

Support levels:

S1: 1.3155

S2: 1.3135

S3: 1.3115

Trading recommendations for today: watch for potential selling opportunities.

The material has been provided by InstaForex Company -