Trading Conditions
Products
Tools
GBP/USD is still looking for a strong catalyst that helps to ride the Cable in the bullish bias, and it continues to struggling with the resistance zone of 1.2522. If a breakout happens over there, a rally towards 1.2600 is likely to happen in the short term. If US NFP data comes below the expectations, such scenario could be possible.
H1 chart's resistance levels: 1.2522 / 1.2598
H1 chart's support levels: 1.2420 / 1.2333
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 1.2522, take profit is at 1.2598, and stop loss is at 1.2447.
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.