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Daily chart: This pair has made a breakout again at the support level of 1.7000. Now, the GBP/USD is trying to consolidate above this level, because the bullish outlook is still alive and this pair continues forming a bullish pattern. However, if the GBP/USD manages to make a successful breakout at the 1.7000 level, it's expected to fall to the level of 1.6851. The MACD indicator is in the overbought zone.
H4 chart: The GBP/USD is trying to consolidate below the 1.6995 level, so it is very likely that this pair will fall to the support level of 1.6920 in the coming hours. If GBP/USD manages to make a breakout at the level of 1.6900, it's expected to fall to the support level of 1.6841. The MACD indicator is in negative territory.
H1 chart: The GBP/USD has made a bullish rebound above the 200 SMA, where the area of point of control is located. If the pair manages to make a breakout on the resistance level of 1.7000, it's expected to rise to the level of 1.7050, which would usher in a bullish intraday trend. The MACD indicator is in positive territory.
Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.7000, take profit is at 1.7050, and stop loss is at 1.6950.
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