Recently, the GBP/USD pair has been trading sideways at the price of 1.3545. According to the 30M time frame, I found that the price successfully tested the support at 1.3523 (pivot support 1), which is a sign that selling looks risky. I also found a morning star candle formation and oversold stochastic oscillator, which is a sign of strength. My advice is to watch for potetnial buying opportunities. The upward targets are set at 1.3572, 1.3590, and 1.3625.
Resistance levels:
R1: 1.3572
R2: 1.3592
R3: 1.3625
Support levels:
S1: 1.3518
S2: 1.3485
S3: 1.3465
Trading recommendations for today: watch for potential buying opportunities.
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