GBP/USD is still finding strong resistance around the level of 1.5898 in the daily chart, where we expect a higher high pattern formation in order to do rallies towards the next high at the level of 1.6036.
On the H1 chart, GBP/USD is still trading sideways, but the bullish bias remains intact. Also, be aware of the support level of 1.5841, because it's currently bringing strong bottom to the current price action of this pair. The 200 SMA in the current time frame is still bullish and the MACD indicator is turning to negative territory.
Daily chart's resistance levels: 1.5898 / 1.6036 Daily chart's support levels: 1.5755 / 1.5543 H1 chart's resistance levels: 1.5884 / 1.5927 H1 chart's support levels: 1.5841 / 1.5789 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 1.5884, take profit is at 1.5927, and stop loss is at 1.5841.
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