GBP/USD analysis for April 12, 2018

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Recently, the GBP/USD has been trading downwards. The price tested the level of 1.4144. Anyway, according to the 30M time – frame, I found a confirmed bullish flag in the background, which is a sign that buyers are in control. I also found a hidden bullish divergence on the moving average osicllator, which is a sign of strength. My advice is to watch for potential buying opportunities. The upward targets are set at the price of 1.4245 and at the price of 1.4310.

Resistance levels:

R1: 1.4215

R2: 1.4250

R3: 1.4277

Support levels:

S1: 1.4150

S2: 1.4125

S3: 1.4090

Trading recommendations for today: watch for potential buying opportunities.

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