GBP/USD analysis for December 01, 2017


Recently, GBP/USD is trading downwards. The price tested the level of 1.3456. Anyway, according to the 15M time – frame, I found a hidden bullish divergence on the stochastic oscillator in creation, which is a sign that selling looks risky. I also found a strong pinbar in the background, which sugests strength. My advice is to watch for potential buying opportunities. Upward targets are set at the price of 1.3510 and at the price of 1.3540.

Resistance levels:

R1: 1.3582

R2: 1.3638

R3: 1.3725

Support levels:

S1: 1.3440

S2: 1.3350

S3: 1.3296

Trading recommendations for today: watch for potential buying opportunities.

The material has been provided by InstaForex Company -