Trading Conditions
Products
Tools
GBP/USD is awaiting the BOE interest rate decision. In a technical view, the pair remains capped by a strong resistance placed around 1.2957, formed by a congestion zone which has been holding since April 28th. If the cable manages to break it, then we can expect a bullish acceleration towards the 1.3030 hurdle.
H1 chart's resistance levels: 1.2957 / 1.3029
H1 chart's support levels: 1.2855 / 1.2652
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 1.2957, take profit lies at 1.3029 and stop loss is found at 1.2887.
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.