Trading Conditions
Products
Tools
The pair gained momentum during Tuesday's session amid weakness seen in the US Dollar across the markets. Currently, GBP/USD is attempting a bullish consolidation above the resistance level of 1.2826, targeting the next key barrier around 1.2881. If the pair manages to retrace, it's possible to see a decline towards 1.2756.
H1 chart's resistance levels: 1.2826 / 1.2881
H1 chart's support levels: 1.2756 / 1.2710
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 1.2756, take profit is at 1.2710 and stop loss is at 1.2802.
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.