GBP/USD remains finding resistance around 1.3153 and the bullish path continues to strengthen. The price action is consolidated above the 200 SMA at H1 chart and it points to more gains in the short-term and if that level gives up, then we might expect more rallies towards the 1.3257 level. The MACD indicator is still in the positive territory, favoring to the bulls.
H1 chart’s resistance levels: 1.3153 / 1.3257
H1 chart’s support levels: 1.3058 / 1.2962
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 1.3153, take profit is at 1.3257 and stop loss is at 1.3051.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
GBP/USD remains finding resistance around 1.3153 and the bullish path continues to strengthen. The price action is consolidated above the 200 SMA at H1 chart and it points to more gains in the short-term and if that level gives up, then we might expect more rallies towards the 1.3257 level. The MACD indicator is still in the positive territory, favoring to the bulls.
H1 chart’s resistance levels: 1.3153 / 1.3257
H1 chart’s support levels: 1.3058 / 1.2962
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 1.3153, take profit is at 1.3257 and stop loss is at 1.3051.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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