Despite a slow Friday's economic calendar, GBP/USD had a bearish session and now it'ts being supported by the 200 SMA at H1 chart. US Dollar is attempting to recover from recent losses, but the structure on the Sterling is still pointing to the upside, as long as it remains trading above that moving average. Next target on the bullish side is still placed at the 1.3170 level.
H1 chart's resistance levels: 1.3085 / 1.3170
H1 chart's support levels: 1.3000 / 1.2935
Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.3085, take profit is at 1.3170 and stop loss is at 1.3000.
The material has been provided by InstaForex Company - www.instaforex.comfrom www.instaforex.com http://ift.tt/2boOWK8
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