FX.co ★ GBP/USD analysis for April 14, 2017

Recently, the GBP/USD has been trading sideways at the price of 1.2530. According to the 1H time frame, I found a broken broken upward trendline, which is a sign that buying looks risky. I found a hidden bearish divergence on the moving average oscilator, which is another sign of weakness. My advice is to watch for potetnial selling opportunities. The downward target is set at the price of 1.2375.

Resistance levels:

R1: 1.2520

R2: 1.2525

R3: 1.2530

Support levels:

S1: 1.2505

S2: 1.2500

S3: 1.2495

Trading recommendations for today: watch for potential selling opportunities.