FX.co ★ GBP/USD analysis for June 13, 2017

Recently, the GBP/USD has been trading sideways at the price of 1.2730. Anyway, according to the 4H time frame, I have found potential double bottom formation and bullish Wolfe Wave pattern, which is a sign that selling looks risky. My advice is to watch for potential buying opportunities. The projected targets according to the Wolfe Wave pattern are set at the price of 1.3000 and 1.3050.

Resistance levels:

R1: 1.2740

R2: 1.2825

R3: 1.2875

Support levels:

S1: 1.2600

S2: 1.2550

S3: 1.2470

Trading recommendations for today: watch for potential buying opportunities.