The pair stays strong in the short-term as the price action is consolidating above the support zone of 1.4136. Currently, GBP/USD is facing off the resistance level of 1.4225, which is the last hurdle ahead of the 1.4269 level and if it manages to break above such area, the bulls could strengthen in the short-term. MACD indicator remains in the positive territory, favoring to the bulls.
H1 chart’s resistance levels: 1.4225 / 1.4269
H1 chart’s support levels: 1.4136 / 1.4061
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 1.4225, take profit is at 1.4269 and stop loss is at 1.4185.The material has been provided by InstaForex Company – www.instaforex.com
The pair stays strong in the short-term as the price action is consolidating above the support zone of 1.4136. Currently, GBP/USD is facing off the resistance level of 1.4225, which is the last hurdle ahead of the 1.4269 level and if it manages to break above such area, the bulls could strengthen in the short-term. MACD indicator remains in the positive territory, favoring to the bulls.
H1 chart’s resistance levels: 1.4225 / 1.4269
H1 chart’s support levels: 1.4136 / 1.4061
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 1.4225, take profit is at 1.4269 and stop loss is at 1.4185.The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: