FX.co ★ GBP/USD analysis for March 09, 2017

Recently, the GBP/USD pair has been trading sideways at the price of 1.2160. According to the 30M time frame, I found hidden bullish divergence, which is a sign that selling looks risky. My advice is to watch for potential buying opportunities. The first target is set at the price of 1.2220 (swing high). Support at the price of 1.2140 was held successfully several times, which is another sign of strength.

Resistance levels:

R1: 1.2212

R2: 1.2250

R3: 1.2290

Support levels:

S1: 1.2134

S2: 1.2100

S3: 1.2050

Trading recommendations for today: watch for potential buying opportunities.