GBP/USD analysis for January 19, 2018

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Recently, the GBP/USD pair has been trading sideways at the price of 1.3878. According to the 30M time – frame, I found a successful rejection of pivot resistance 1 at the price of 1.3936 (strong price action resistance), 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 1.3829 (pivot support 1) and at the price of 1.3763 (pivot support 1).

Resistance levels:

R1: 1.3936

R2: 1.3979

R3: 1.4045

Support levels:

S1: 1.3829

S2: 1.3763

S3: 1.3719

Trading recommendations for today: watch for potential selling opportunities.

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