FX.co ★ GBP/USD analysis for March 21, 2018

Recently, the GBP/USD pair has been trading sideways at the price of 1.4070. Anyway, accorrding to the 1H time frame, I found that price did a successful re-test of the support in the background, which is a sign that buyers are in control. I also found a rejection of Fibonacci retracement 50% at the price of 1.3995, which is another sign of strength. My advice is to watch for potential buying opportunities. The upward target is set at the price of 1.4175.

Resistance levels:

R1: 1.4050

R2: 1.4100

R3: 1.4135

Support levels:

S1: 1.3965

S2: 1.3932

S3: 1.3880

Trading recommendations for today: watch for potential buying opportunities.