GBP/USD was under pressure during Thursday’s session and it seems the pair will look for a consolidation below the 200 SMA. However, the focus is still bullish, as we haven’t seen yet a strong breakout to the downside and the idea remains in a target placed around 1.3037, at which a breakout should expose the 1.3106 level.
H1 chart’s resistance levels: 1.3037 / 1.3106
H1 chart’s support levels: 1.2968 / 1.2882
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 1.3037, take profit is at 1.3106 and stop loss is at 1.2968.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
GBP/USD was under pressure during Thursday’s session and it seems the pair will look for a consolidation below the 200 SMA. However, the focus is still bullish, as we haven’t seen yet a strong breakout to the downside and the idea remains in a target placed around 1.3037, at which a breakout should expose the 1.3106 level.
H1 chart’s resistance levels: 1.3037 / 1.3106
H1 chart’s support levels: 1.2968 / 1.2882
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 1.3037, take profit is at 1.3106 and stop loss is at 1.2968.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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