Recently, the GBP/USD has been trading downwards. The price tested the level of 1.3869. Anyway, according to the 30M time – frame, I found a successful rejection of the pivot support 1 at the price of 1.3875, which is a sign that selling looks risky. I also found a hidden bullish divergence on the stochastic oscillator, which is another sign of strength. My advice is to watch for potential buying opportunities. The upward targets are set at the price of 1.3940 and at the price of 1.3982.
Resistance levels:
R1: 1.3980
R2: 1.4048
R3: 1.4087
Support levels:
S1: 1.3878
S2: 1.3840
S3: 1.3773
Trading recommendations for today: watch for potential buying opportunities.
The material has been provided by InstaForex Company - www.instaforex.com