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26.02.201723:08 Forex Analysis & Reviews: Daily analysis of GBP/USD for February 27, 2017

Long-term review
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GBP/USD plummeted during Friday's session, as it remains capped by the 1.2500 handle across the board, with a recent interest in USD's buying for the short-term. If the pair manages to break below 1.2414, then it can test the 1.2360 zone, which could also strengthen the idea of further declines in an effort to look at the 1.2250 level. MACD indicator is in the negative territory, favoring the bearish side.

Exchange Rates 26.02.2017 analysis

H1 chart's resistance levels: 1.2546 / 1.2633

H1 chart's support levels: 1.2414 / 1.2360

Trading recommendations for today: Based on the H1 chart, buy (long) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.2546, take profit is at 1.2633 and stop loss is at 1.2462.

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