The pair cannot find a clear path for the short-term, as the narrow range between the 1.2875 and 1.2728 levels remain in place across the board. The 200 SMA at H1 chart is still providing dynamic support, around 1.2728, but overall, there is a sideways structure ongoing. If it manages to break above 1.2875, the bullish bias can receive a nice wave of buyers.
H1 chart’s resistance levels: 1.2875 / 1.3029
H1 chart’s support levels: 1.2728 / 1.2652
Trading recommendations for today: Based on the H1 chart, buy (long) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.2875, take profit is at 1.3029 and stop loss is at 1.2723.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
The pair cannot find a clear path for the short-term, as the narrow range between the 1.2875 and 1.2728 levels remain in place across the board. The 200 SMA at H1 chart is still providing dynamic support, around 1.2728, but overall, there is a sideways structure ongoing. If it manages to break above 1.2875, the bullish bias can receive a nice wave of buyers.
H1 chart’s resistance levels: 1.2875 / 1.3029
H1 chart’s support levels: 1.2728 / 1.2652
Trading recommendations for today: Based on the H1 chart, buy (long) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.2875, take profit is at 1.3029 and stop loss is at 1.2723.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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