The pair is performing a consolidation above the 200 SMA at H1 chart. Currently, a resistance can be found at the 1.3170 level, where the bulls are attempting to break higher towards the 1.3277 level. However, a pullback should happen to correct the overall trend. MACD indicator is into the negative territory.
H1 chart’s resistance levels: 1.3175 / 1.3277
H1 chart’s support levels: 1.3085 / 1.3000
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 1.3175, take profit is at 1.3277 and stop loss is at 1.3064.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
The pair is performing a consolidation above the 200 SMA at H1 chart. Currently, a resistance can be found at the 1.3170 level, where the bulls are attempting to break higher towards the 1.3277 level. However, a pullback should happen to correct the overall trend. MACD indicator is into the negative territory.
H1 chart’s resistance levels: 1.3175 / 1.3277
H1 chart’s support levels: 1.3085 / 1.3000
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 1.3175, take profit is at 1.3277 and stop loss is at 1.3064.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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