GBP/USD analysis for December 13, 2017

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Recently, the GBP/USD pair has been trading sideways at the price of 1.3350. According to the 15M time – frame, I found successful rejection from the pivot resistance 1 at the price of 1.3365. I also found a simmetrical triangle in creation together with hidden bearish divergence on the stochastic oscillator, which is a sign that buying looks risky. My advice is to watch for potential selling opportunities. The downward targets are set at the price of 1.3303, 1.3287 and at the price of 1.3255.

Resistance levels:

R1: 1.3365

R2: 1.3410

R3: 1.3440

Support levels:

S1: 1.3287

S2: 1.3255

S3: 1.3210

Trading recommendations for today: watch for potential selling opportunities.

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