GBP/USD remains bullish on the daily chart, because the pair is trying to do a consolidation above the 200 SMA again as it's facing the resistance level of 1.5543. If GBP/USD manages to break that zone, it would be expected to rise to the next resistance around the 1.5755 level in the medium term. MACD indicator is on the positive territory. Show full picture On theH1 chart, the pair is trading higher above the 200 SMA and the support level of 1.5548, where a higher high pattern is currently being formed. If the pair makes a breakout in the resistance zone of 1.5610, it could do a rally towards the resistance level of 1.5671 during this week. Anyway, it could make some pullbacks before any rallies. Show full picture Daily chart's resistance levels: 1.5543 / 1.5755 Daily chart's support levels: 1.5346 / 1.5199 H1 chart's resistance levels: 1.5610 / 1.5671 H1 chart's support levels: 1.5548 / 1.5502 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 1.5610, take profit is at 1.5671, and stop loss is at 1.5548. Performed by Felipe Erazo, Analytical expert InstaForex Group © 2007-2015 Share Ask the author Back to the list More articles by this author
On theH1 chart, the pair is trading higher above the 200 SMA and the support level of 1.5548, where a higher high pattern is currently being formed. If the pair makes a breakout in the resistance zone of 1.5610, it could do a rally towards the resistance level of 1.5671 during this week. Anyway, it could make some pullbacks before any rallies
Daily chart's resistance levels: 1.5543 / 1.5755 Daily chart's support levels: 1.5346 / 1.5199 H1 chart's resistance levels: 1.5610 / 1.5671 H1 chart's support levels: 1.5548 / 1.5502 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 1.5610, take profit is at 1.5671, and stop loss is at 1.5548.
Read more: https://www.instaforex.com/forex_analysis/61886/