GBP/USD rallied to make a new weekly high, following slightly dovish FOMC's minutes and now, the pair is being supported by the 200 SMA at H1 chart. A resistance can be seen at the 1.3085 level, where a breakout should open the doors to test the 1.3170 price zone. Overall structure remains bearish and eventually, it can resume that bias towards the 1.2894 level.
H1 chart's resistance levels: 1.3085 / 1.3170
H1 chart's support levels: 1.3000 / 1.2894
Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the GBP/USD pair breaks a bearish candlestick; the support level is at 1.3000, take profit is at 1.2894 and stop loss is at 1.3108.
The material has been provided by InstaForex Company - www.instaforex.comfrom www.instaforex.com http://ift.tt/2bzHQk5
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