GBP/USD analysis for February 26, 2018


Recently, the GBP/USD has been trading upwards. The price tested the level of 1.4070. Anyway, according to the 30M time – frame, I found a rejection of pivot resistance 2 at the price of 1.4060, which is a sign that buying looks risky. I also found a hidden bearish divergence on the stochastic oscillator, which is another sign of weakness. My advice is to watch for potential selling opportunities. The downward targets are set at the price of 1.4015 and at the price of 1.3960.

Resistance levels:

R1: 1.4015

R2: 1.4060

R3: 1.4117

Support levels:

S1: 1.3915

S2: 1.3860

S3: 1.3815

Trading recommendations for today: watch for potential selling opportunities.

The material has been provided by InstaForex Company -