The pair extended the corrective move to the downside towards the support level of 1.3258, which is slightly below the 200 SMA zone. Around that area, we should expect a rebound to resume the bullish bias and that is likely, as GBP/USD has been trying to keep above the lows from August 30th session. The next resistance is placed at the 1.3360 level.
H1 chart's resistance levels: 1.3360 / 1.3480
H1 chart's support levels: 1.3258 / 1.3116
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 1.3360, take profit is at 1.3480 and stop loss is at 1.3240.
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