GBP/USD analysis for April 09, 2018

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Recently, the GBP/USD has been trading upwards. The price tested the level of 1.4117. Anyway, according to the 15M time – frame, I found a hidden bearish divergence on the LBR oscillator, which is a sign that buying looks risky. I also found a fake breakout of yesterday's high, which is another sign of weakness. My advice is to watch for potential selling opportunities. The downward targets are set at the price of 1.4050 and at the price of 1.3985.

Resistance levels:

R1: 1.4137

R2: 1.4182

R3: 1.4260

Support levels:

S1: 1.4015

S2: 1.3940

S3: 1.3890

Trading recommendations for today: watch for potential selling opportunities.

The material has been provided by InstaForex Company - www.instaforex.com