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13.06.201721:24 Forex Analysis & Reviews: Daily analysis of GBP/USD for June 14, 2017

Long-term review

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GBP/USD gained momentum during Tuesday's session ahead of Fed meeting, as the pair was favored by a recovery move held since Monday. The resistance zone of 1.2753 still provides a good hurdle for buyers but if the pair manages to break above that level, then we might expect a rally towards 1.2826. MACD indicator is in the overbought territory.

H1 chart's resistance levels: 1.2753 / 1.2826

H1 chart's support levels: 1.2660 / 1.2547

Trading recommendations for today: Based on the H1 chart, sell (short) orders only if the GBP/USD pair breaks a bearish candlestick; the support level is at 1.2660, take profit is at 1.2547 and stop loss is at 1.2773.

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