FX.co ★ Analysis of GBP/USD for March 13, 2017

Recently, the GBP/USD pair has been trading upwards. The price tested the level of 1.2239. According to the 4H time frame, there is still space for further rise and that selling looks risky. I found that sellers don't have power to react on strong demand which is a sign of strength. My advice is to watch for buying opportunties. The first target is set at 1.2300.

Resistance levels:

R1: 1.2176

R2: 1.2180

R3: 1.2190

Support levels:

S1: 1.2150

S2: 1.2140

S3: 1.2130

Trading recommendations for today: watch for potential buying opportunities.