Recently, the GBP/USD has been trading upwards. As I expected, the price tested the level of 1.4279. According to the M30 time – frame, I found a rising bottom and hidden bullish divergence on the moving average oscillator in the background, which is a sign that buyers are in control. My advice is to watch for potential buying opportunities. I placed Fibonacci expansion to find potential upward targets. The upward targets are set at the price of 1.4310 and at the price of 1.4340.
Resistance levels:
R1: 1.4283
R2: 1.4327
R3: 1.4360
Support levels:
S1: 1.4207
S2: 1.4176
S3: 1.4130
Trading recommendations for today: watch for potential buying opportunities.
The material has been provided by InstaForex Company - www.instaforex.com