Recently, the GBP/USD pair has been trading upwards. The price tested the level of 1.3430. According to the 30M time – frame, I found testing of the previous day's high at the price of 1.3387 that is a sign that selling looks risky. I also found oversold conditions on the stochastic oscillator, which is another sign of srength. I placed a Fibonacci expansion to find potential upward targets. I got FE 61.8% at the price of 1.3431 and FE 100% at the price of 1.3495.
Resistance levels:
R1: 1.3411
R2: 1.3483
R3: 1.3578
Support levels:
S1: 1.3244
S2: 1.3150
S3: 1.3077
Trading recommendations for today: watch for potential buying opportunities.
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