Trading Conditions
Products
Tools
The pair is looking for a clear direction across the board, as the bulls are making a shy attempt to regain the control of the situation. The 200 SMA at H1 chart keeps adding pressure to the downside as a dynamic resistance, but if GBP/USD manages to break above 1.3341, then we can expect further rallies toward the 1.3455 level.
H1 chart's resistance levels: 1.3341 / 1.3455
H1 chart's support levels: 1.3264 / 1.3173
Trading recommendations for today: Based on the H1 chart, sell (short) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.3264, take profit is at 1.3173 and stop loss is at 1.3354.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.