The pair found resistance at the 1.3258 level and now it’s expected to remain in sideways ahead of Jackson Hole due today. Currently, GBP/USD is supported by the 1.3170 price zone, which is very close to the 200 SMA. Now, we could expect a rally towards the 1.3258 level, where a breakout should happen in order to test the 1.3358 level.
H1 chart’s resistance levels: 1.3258 / 1.3358
H1 chart’s support levels: 1.3170 / 1.3085
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 1.3258, take profit is at 1.3358 and stop loss is at 1.3158.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
The pair found resistance at the 1.3258 level and now it’s expected
to remain in sideways ahead of Jackson Hole due today. Currently,
GBP/USD is supported by the 1.3170 price zone, which is very close to
the 200 SMA. Now, we could expect a rally towards the 1.3258 level,
where a breakout should happen in order to test the 1.3358 level.
H1 chart’s resistance
levels: 1.3258 / 1.3358
H1 chart’s support levels:
1.3170 / 1.3085
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 1.3258, take profit is at
1.3358 and stop loss is at 1.3158.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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