FX.co ★ GBP/USD analysis for May 02, 2017

Recently, the GBP/USD has been trading sideways at the price of 1.2900. According to the 4H time frame, the price has broken the bullish flag formation, which is a sign that buyers are in control. The short – term trend is bullish. My advice is to watch for potential buying opportunities. The first upward target Is set at the price of 1.3025.

Resistance levels:

R1: 1.2935

R2: 1.2955

R3: 1.2985

Support levels:

S1: 1.2875

S2: 1.2860

S3: 1.2830

Trading recommendations for today: watch for potential buying opportunities.