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

Recently, the GBP/USD has been trading sideways at the price of 1.2850. Anyway, according to the 30M time frame, I found confirmed resistance at the price of 1.2915, which is a sign that buying looks risky. My advice is to watch for selling opportunities. There is also a divergent bar in the background, which is another sign of weakness. The downward targets are set at the price of 1.2830 and 1.2770.

Resistance levels:

R1: 1.2925

R2: 1.2960

R3: 1.3000

Support levels:

S1: 1.2840

S2: 1.2790

S3: 1.2755

Trading recommendations for today: watch for potential selling opportunities.