FX.co ★ Analysis of GBP/USD for May 28, 2018

Recently, the GBP/USD pair has been trading downwards. The price tested the level of 1.3292. Anyway, according to the H1 time frame, I found a fake breakout of the low at the price of 1.3305, which is a sign that selling looks risky. Recently, I found a breakout of supply trendline and a potential bullish flag in creation, which is a sign that buyers are taking control. I also found a hidden bullish divergence on the MACD oscillator in the background, which is another sign of strength. Watch for potential buying opportunities if you see a breakout of the flag. The upward target is set at the price of 1.3420.

Resistance levels:

R1: 1.3320

R2: 1.3330

R3: 1.3340

Support levels:

S1: 1.3300

S2: 1.3293

S3 : 1.3280

Trading recommendations for today: watch for potential buying opportunities.