Recently, the GBP/USD has been trading upwards. The price tested the level of 1.2978 in an ultra high volume. Anyway, according to the 30M time frame, I found buying climax in the background, which is a sign of weakness. After the climax activity, I found a weak demand, which is another sign of weakness. My advice is to watch for potential selling opportunities. The downward targets are set at the price of 1.2925 and 1.2900.
Resistance levels:
R1: 1.2960
R2: 1.2990
R3: 1.3040
Support levels:
S1: 1.2890
S2: 1.2845
S3: 1.2815
Trading recommendations for today: watch for potential selling opportunities.
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