GBP/USD is set to follow a clear path this week, as the support zone of 1.2855 continues to block the bearish advance across the board. The pair should break below that zone in order to strengthen the acceleration towards the 1.2772 level, while a rebound can put the Cable in the focus to target the key handle of 1.3000.
H1 chart’s resistance levels: 1.2910 / 1.2957
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 1.2910, take profit is at 1.2957 and stop loss is at 1.2887.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
GBP/USD is set to follow a clear path this week, as the support zone of 1.2855 continues to block the bearish advance across the board. The pair should break below that zone in order to strengthen the acceleration towards the 1.2772 level, while a rebound can put the
Cable in the focus to target the key handle of 1.3000.
H1 chart’s resistance
levels: 1.2910 / 1.2957
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 1.2910, take profit is at
1.2957 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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