Recently, the GBP/USD has been trading downwards. The price tested the level of 1.3930. Anyway, according to the 30M time – frame, I found a hidden bullish divergence on the stochastic oscillator, which is a sign that selling looks risky. I also found a fake breakout of yesterday's low at the price of 1.3960, which is another sign of strength. My advice is to watch for potential buying opportunities.
Resistance levels:
R1: 1.4043
R2: 1.4090
R3: 1.4135
Support levels:
S1: 1.3955
S2: 1.3910
S3: 1.3860
Trading recommendations for today: watch for potential buying opportunities.
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