GBP/USD analysis for March 08, 2018


Recently, the GBP/USD pair has been trading downwards. The price tested the level of 1.3859. Anyway, according to the 15M time – frame, I found a successful rejection of the pivot support 1 at the price of 1.3863, which is a sign that selling looks risky. I also found a hidden bullish divergence on the stochastic oscillator, which is another sign of strength. My advice is to watch for potential buying opportunities. The upward targets are set at the price of 1.3928 and at the price of 1.3953.

Resistance levels:

R1: 1.3928

R2: 1.3953

R3: 1.3955

Support levels:

S1: 1.3863

S2: 1.3820

S3: 1.3796

Trading recommendations for today: watch for potential buying opportunities.

The material has been provided by InstaForex Company -