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21.07.201623:21 Forex Analysis & Reviews: Daily analysis of GBP/USD for July 22, 2016

Long-term review

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The pair moved mostly sideways yesterday, and we can still see some hovering around the 200 SMA price zone on the H1 chart. Immediate resistance can be found at the psychological level of 1.3300, where the bulls should make a breakout in order to reach the 1.3459 level. However, we're still expecting slow moves ahead of the end of the week.

H1 chart's resistance levels: 1.3300 / 1.3459

H1 chart's support levels: 1.3148 / 1.3001

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 1.3300, take profit is at 1.3459 and stop loss is at 1.3139.

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