FX.co ★ GBP/USD analysis for April 24, 2018

Recently, the GBP/USD has been trading downwards. As I expected, the price tested the level of 1.3919. Anyway, according to the M15 time frame, I found a potential end of the bullish corrective phase (ABC), which is a sign that buying looks risky. The trend is still bearish and my advice is to watch for potential selling opportunities. The downward target is set at the price of 1.3865.

Resistance levels:

R1: 1.4005

R2: 1.4070

R3: 1.4110

Support levels:

S1: 1.3900

S2: 1.3860

S3: 1.3795

Trading recommendations for today: watch for potential selling opportunities.