FX.co ★ GBP/USD analysis for April 26, 2017

Recently, the GBP/USD has been trading sideways at the price of 1.2825. According to the 4H time frame, I found a strong sign of the weakness at the background and my advice is to watch for selling opportunities. There is a wide spread bar which closed well off the high. Critical resistance is set at the price of 1.2840. The first downward target is set at the price of 1.2755.

Resistance levels:

R1: 1.2850

R2: 1.2860

R3: 1.2895

Support levels:

S1: 1.2790

S2: 1.2770

S3: 1.2745

Trading recommendations for today: watch for potential selling opportunities.