GBP/USD analysis for August 16, 2018
Recently, the GBP/USD pair has been trading sideways at the price of 1.2697. According to the M30 time – frame, I found a buying climax in the background (weakness) and lack of buying power since the price didn’t test the resistance 1. I also found a broken upward trendline in the background, which is another sign of weakness. My advice is to watch for potential selling opportunities. The downward targets are set at the price of 1.2663 and at the price of 1.2625.
Trading recommendations for today: watch for potential selling opportunities.