GBP/USD analysis for April 13, 2018


Recently, the GBP/USD pair has been trading upwards. As I expected, the price tested the level of 1.4295. According to the M30 time – frame, I found that buyers are in control, which is a sign that selling looks risky. I also found a broken resistance and hidden bullish divergence on the moving average oscillator in the background, which is another sign of strength. The trend is bullish and my advice is to go with the direction of the trend. The upward targets are set at the price of 1.4310 and 1.4340 (major swing high).

Resistance levels:

R1: 1.4268

R2: 1.4310

R3: 1.4370

Support levels:

S1: 1.4165

S2: 1.4105

S3: 1.4065

Trading recommendations for today: watch for potential buying opportunities.

The material has been provided by InstaForex Company -