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GBP/USD analysis for March 14, 2017

Posted On 14 Mar 2017
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Recently, the GBP/USD pair has been trading downwards. The price tested the level 1.2109. According to the 5M time frame, I found hidden bullish divergence on the moving average osiclator and weak supply, which is sign that selling looks risky. My advice is to watch for potential intraday buying opportunities. Targets are set at the price of 1.2180 and 1.2200.

Resistance levels:

R1: 1.2245

R2: 1.2270

R3: 1.2310

Support levels:

S1: 1.2165

S2: 1.2140

S3: 1.2100

Trading recommendations for today: watch for potential intraday buying opportunities.

The material has been provided by InstaForex Company – www.instaforex.com

Source:: GBP/USD analysis for March 14, 2017

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