Trading Conditions
Products
Tools
GBP/USD is currently trading inside a recovery mode above the 1.2700 handle and we could expect a test of the 1.2800 psychological zone. This should be taken as a corrective move and it could be targeting to reach the 200 SMA in coming days. However, if the pair does a breakout below the 1.2717 level, then we can expect a decline to the 1.2650 level.
H1 chart's resistance levels: 1.2800 / 1.2850
H1 chart's support levels: 1.2717 / 1.2650
Trading recommendations for today: Based on the H1 chart, sell (short) orders only if the GBP/USD pair breaks a bearish candlestick; the support level is at 1.2717, take profit is at 1.2650 and stop loss is at 1.2782.
InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.