GBP/USD analysis for February 21, 2018


Recently, the GBP/USD has been trading downwards. The price tested the level of 1.3972. Anyway, according to the 30M time – frame, I found a successful rejection of pivot support at the price of 1.3940, which is a sign that selling looks risky. I also found a hidden bullish divergence on the stochastic oscillator, which is another sign of the strength. My advice is to watch for potential buying opportunities. The upward targets are set at the price of 1.4035 and at the price of 1.4075.

Resistance levels:

R1: 1.4035

R2: 1.4075

R3: 1.4130

Support levels:

S1: 1.3945

S2: 1.3890

S3: 1.3850

Trading recommendations for today: watch for potential buying opportunities.

The material has been provided by InstaForex Company -