GBP/USD analysis for February 20, 2018


Recently, the GBP/USD has been trading downwards. The price tested the level of 1.3930. Anyway, according to the 30M time – frame, I found a hidden bullish divergence on the stochastic oscillator, which is a sign that selling looks risky. I also found a fake breakout of yesterday's low at the price of 1.3960, which is another sign of strength. My advice is to watch for potential buying opportunities.

Resistance levels:

R1: 1.4043

R2: 1.4090

R3: 1.4135

Support levels:

S1: 1.3955

S2: 1.3910

S3: 1.3860

Trading recommendations for today: watch for potential buying opportunities.

The material has been provided by InstaForex Company -