Recently, the GBP/USD has been trading upwards. The price tested the level of 1.3163. Anyway, according to the H1 time – frame, I found testing of upper diagonal of the channel (resistance), which is a sign that buying looks risky. I also found a broken upward trendline in the background, which is another sign of weakness. My advice is to watch for potential selling opportunities. The downward targets are set at the price of 1.3070 and at the price of 1.2960.
Resistance levels:
R1: 1.3160
R2: 1.3183
R3: 1.3215
Support levels:
S1: 1.3105
S2: 1.3075
S3: 1.3052
Trading recommendations for today: watch for potential selling opportunities.
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