The pair is extending the bullish bias across the board and it’s shifting the focus towards the 1.3000 handle, as GBP/USD managed to break above 1.2957. The next key resistance lies at 1.3029, where possibly we can expect some bearish reaction, but the overall structure remains untouched and that’s why we expect further strength in coming days. To the downside, the next support is placed around the 200 SMA zone on H1 chart.
H1 chart’s resistance levels: 1.2957 / 1.3029
H1 chart’s support levels: 1.2855 / 1.2652
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 1.2957, take profit is at 1.3029 and stop loss is at 1.2887.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
The pair is extending the bullish bias across the board and it’s
shifting the focus towards the 1.3000 handle, as GBP/USD managed to
break above 1.2957. The next key resistance lies at 1.3029, where
possibly we can expect some bearish reaction, but the overall
structure remains untouched and that’s why we expect further
strength in coming days. To the downside, the next support is placed
around the 200 SMA zone on H1 chart.
H1 chart’s resistance
levels: 1.2957 / 1.3029
H1 chart’s support levels:
1.2855 / 1.2652
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 1.2957, take profit is at
1.3029 and stop loss is at 1.2887.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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