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19.02.201806:02 Forex Analysis & Reviews: Daily analysis of GBP/USD for February 19, 2018

Long-term review

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The pair has already made a pullback around the 1.4150 level across the board and looks forward to test the 200 SMA at H1 chart. There are fractals formed around that area, which should provide support in the near-term to produce a rebound in order to resume the bullish bias. If it manages to break above 1.4078, then the next area would be the 1.4209 level.

H1 chart's resistance levels: 1.4078 / 1.4209

H1 chart's support levels: 1.3939 / 1.3753

Trading recommendations for today: Based on the H1 chart, sell (short) orders only if the GBP/USD pair breaks a bearish candlestick; the resistance level is at 1.3939, take profit is at 1.3753, and stop loss is at 1.4130.

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