FX.co ★ GBP/USD analysis for May 12, 2017

Recently, the GBP/USD pair has been trading downwards. As I expected, the price tested the level of 1.2846. According to the daily time frame, I still expect lower price. If the price breaks the level of 1.2825, this currency pair may test the level of 1.2760. My advice is to watch for selling opportunities. The downward target is set at the price of 1.2760.

Resistance levels:

R1: 1.2885

R2: 1.2895

R3: 1.2910

Support levels:

S1: 1.2855

S2: 1.2845

S3: 1.2830

Trading recommendations for today: consider potential intraday selling opportunities.