FX.co ★ GBP/USD analysis for June 08, 2018

Recently, the GBP/USD pair has been trading sideways at the price of 1.3420. According to the H1 time – frame, I found a bullish flag in creation, which is a sign that selling looks risky. My advice is to watch for a otential breakout of the bullish flag to confirm a further upward movement. The upward target is set at the price of 1.3480.

Resistance levels:

R1: 1.3467

R2: 1.3520

R3: 1.3566

Support levels:

S1: 1.3368

S2: 1.3321

S3: 1.3269

Trading recommendations for today: watch for potential buying opportunities.