Recently, the GBP/USD has been trading sideways at the price of 1.4205. Anyway, according to the 30M time – frame, I found a broken bullish channel in the background, which is a sign that sellers are in control. I also found a hidden bearish divergence on the stochastic oscillator, which is another sign of weakness. My advice is to watch for potential selling opportunities. The downward targets are set at the price of 1.4188 and at the price of 1.4115.
Resistance levels:
R1: 1.4308
R2: 1.4355
R3: 1.4427
Support levels:
S1: 1.4188
S2: 1.4115
S3: 1.4070
Trading recommendations for today: watch for potential selling opportunities.
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