On the H1 chart, GBP/USD had a bullish reaction after the BoE decided to leave its interest rates unchanged, and now it’s doing a retracement from the 1.3475 level towards the 1.3300 psychological zone. That’s why we would like to see a bullish continuation, as the 200 SMA still provides dynamic support for the pair.
H1 chart’s resistance levels: 1.3406 / 1.3493
H1 chart’s support levels: 1.3300 / 1.3148
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 1.3406, take profit is at 1.3493 and stop loss is at 1.3316.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
On the H1 chart, GBP/USD had a bullish reaction after the BoE decided to leave its interest rates unchanged, and now it’s doing a retracement from the 1.3475 level towards the 1.3300 psychological zone. That’s why we would like to see a bullish continuation, as the 200 SMA still provides dynamic support for the pair.
H1 chart’s resistance levels: 1.3406 / 1.3493
H1 chart’s support levels: 1.3300 / 1.3148
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 1.3406, take profit is at 1.3493 and stop loss is at 1.3316.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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