FX.co ★ GBP/USD analysis for May 05, 2017

Recently, the GBP/USD pair has been trading upwards. The price tested the level of 1.2959. According to the 15M time frame, I found a price spike after the Non farm employment change report. Anyway, I found a broken upward trendline and a fake breakout of yesterday's high, which is a sign that buying looks risky. My advice is to watch for potential selling opportunities. Downward targets are set at the levels of 1.2900 and 1.2880.

Resistance levels:

R1: 1.2940

R2: 1.2945

R3: 1.2955

Support levels:

S1: 1.2920

S2: 1.2915

S3: 1.2910

Trading recommendations for today: watch for potential selling opportunities.