FX.co ★ GBP/USD analysis for March 22, 2018

Recently, the GBP/USD pair has been trading downwards. The price tested the level of 1.4107. According to the Daily time – frame, I found a reversal up-thrust bar in the background, which is a sign that sellers took control from the buyers. I also found a fake breakout of yesterday's high in the background, which is another sign of weakness. My advice is to watch for potential selling opportunities. The downward target is set at the price of 1.4000.

Resistance levels:

R1: 1.4196

R2: 1.4250

R3: 1.4350

Support levels:

S1: 1.4040

S2: 1.3939

S3: 1.3885

Trading recommendations for today: watch for potential selling opportunities.