Recently, the GBP/USD pair has been trading sideways at the price of 1.3505. According to the H1 time – frame, I found that price is trading inside of the downward channel. My advice is to watch for a potential breakout of the intraday upward trendline to confirm a further downward movement. If you see a valid breakout of intraday trendline, watch for selling opportunities. The downward target is set at the price of 1.3450.
Trading recommendations for today: watch for potential selling opportunities.
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Source:: GBP/USD analysis for May 18, 2018