Recently, the GBP/USD pair has been trading sideways at the price of 1.2770 According to the 15M time frame, I found a big buying climax in the background and a broken symmetrical triangle, which is a sign that buying looks risky. My advice is to watch for selling opportunities. The downward target is set at the price of 1.2730 and 1.2700.
Trading recommendations for today: watch for potential selling opportunities.
The material has been provided by InstaForex Company – www.instaforex.com
Source:: GBP/USD analysis for June 16, 2017