FX.co ★ GBP/USD analysis for February 23, 2017

Recently, the GBP/USD pair has been trading upwards. The price tested the level 1.2482. According to the 5M time frame, I found bearish divergence and a broken neckline, which is a sign that buying looks risky. My advice is to watch for selling opportunities. Targets are set at the price of 1.2430 and 1.2400.

Resistance levels:

R1: 1.2480

R2: 1.2485

R3: 1.2495

Support levels:

S1: 1.2460

S2: 1.2457

S3: 1.2450

Trading recommendations for today: watch for potential selling opportunities.