GBP/USD analysis for May 30, 2018


Recently, the GBP/USD pair has been trading sideways at the price of 1.3260 According to the H1 time – frame, I found a potential bearish flag in creation, which is a sign that buying looks risky. My advice is to watch for a potential breakout of the upward trendline to confirm further downward continuation. The downward target is set at the price of 1.3200.

R1: 1.3320

R2: 1.3380

R3: 1.3440

Support levels:

S1: 1.3200

S2: 1.3140

S3: 1.3080

Trading recommendations for today: watch for potential selling opportunities.

The material has been provided by InstaForex Company -