FX.co ★ GBP/USD analysis for February 21, 2017

Recently, the GBP/USD pair has been trading downwards. The price tested the level 1.2428. According to the 4H time frame, I found successful rejection from supply trendline. There is a doji candle and supply bars. My advice is to watch for potetntial selling opportunties. Downward targets are set at the price of 1.2385 and 1.2350.

Resistance levels:

R1: 1.2455

R2: 1.2460

R3: 1.2470

Support levels:

S1: 1.2437

S2: 1.2430

S3: 1.2420

Trading recommendations for today: watch for potential selling opportunities.