GBP/USD analysis for June 12, 2018

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Recently, the GBP/USD pair has been trading sideways at the price of 1.3391. According to the H1 time frame, I found a broken intraday bullish flat and rejection of the support trend line (larger bullish flag), which is a sign that selling looks risky. My advice is to watch for potential buying opportunities. The upward targets are set at the prices of 1.3437 and 1.3468.

Resistance levels:

R1: 1.3427

R2: 1.3482

R3: 1.3523

Support levels:

S1: 1.3331

S2: 1.3290

S3: 1.3235

Trading recommendations for today: watch for potential buying opportunities.

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