FX.co ★ GBP/USD analysis for June 09, 2017

Recently, the GBP/USD pair has been trading downwards. The price dropped 320 pips and tested the level of 1.2634. Anyway, I found that there is strong selling climax (a sign of strength) in the background and a successful test of supply in a low volume, which is a sign that selling looks risky. My advice is to watch for buying opportunities. The upward targets are set at the price of 1.2827 and the price of 1.2955.

Resistance levels:

R1: 1.2775

R2: 1.2845

R3: 1.2900

Support levels:

S1: 1.2655

S2: 1.2615

S3: 1.2540

Trading recommendations for today: watch for potential buying opportunities.