The pair managed to break above the resistance zone of 1.3027 and it seems the target is now placed around 1.3106. However, as GBP/USD remains well consolidated above the 200 SMA at H1 chart, we can expect further strength and the 1.3100 psychological level could be a feasible objective. To the downside, the nearest support lies at 1.2968.
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
The pair managed to break above the resistance zone of 1.3027 and it seems the target is now placed around 1.3106. However, as GBP/USD remains well consolidated above the 200 SMA at H1 chart, we can expect further strength and the 1.3100 psychological level could be a feasible objective. To the downside, the nearest support lies at 1.2968.
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
Related Posts: