Trading Conditions
Products
Tools
GBP/USD is doing a rebound above the support level of 1.4373, as the declines are still working fine on the overall pair's structure. The 200 SMA at the H1 chart is very bearish and it is supporting the downside idea in a short-term basis at least. However, if Cable achieves in break above 1.4464, then, we can expect a rally towards the 1.4555 level. The MACD indicator is in positive territory.
H1 chart's resistance levels: 1.4464 / 1.4555
H1 chart's support levels: 1.4373 / 1.4309
Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the GBP/USD pair breaks a bearish candlestick; the support level is at 1.4373, take profit is at 1.4309, and stop loss is at 1.4437.
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.