GBP/USD rallied during Wednesday's session after the Fed meeting. The 1.3037 level is the next key resistance on the road. If the pair manages to gain fresh momentum above it, then we may see a breakout higher towards the 1.3116 level coinciding with the 200 SMA on the H1 chart. This level can act as dynamic resistance.
H1 chart's resistance levels: 1.3037 / 1.3116
H1 chart's support levels: 1.2948 / 1.2868
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 1.2948, take profit is at 1.2868 and stop loss is at 1.3029.
The material has been provided by InstaForex Company - www.instaforex.comFrom www.instaforex.com http://ift.tt/2d0DKVl
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