FX.co ★ GBP/USD analysis for May 08, 2017

Recently, the GBP/USD pair has been trading upwards. The price tested the level of 1.2989. Anyway, according to the Daily time frame, I found a false breakout of the 20-day high and overbought RSI (2 period). My advice is to watch for potential selling opportunities. The downward targets are set at the prices of 1.2835 and 1.2760.

Resistance levels:

R1: 1.2985

R2: 1.2990

R3: 1.3000

Support levels:

S1: 1.2960

S2: 1.2955

S3: 1.2945

Trading recommendations for today: watch for potential selling opportunities.