FX.co ★ GBP/USD analysis for May 01, 2018

Recently, the GBP/USD pair has been trading downwards. The price tested the level of 1.3666. Anyway, according to the M30 time – frame, I found a successful rejection of the support trendline, which is a sign that selling looks risky. I also found a hidden bullish divergence on the LBR oscillator, which is another sign of strength. My advice is to watch for potential buying opportunities. The upward target is set at the price of 1.3775.

Resistance levels:

R1: 1.3800

R2: 1.3836

R3: 1.3880

Support levels:

S1: 1.3720

S2: 1.3678

S3: 1.3640

Trading recommendations for today: watch for potential buying opportunities.