The pair is still struggling to break the 200 SMA zone and it could do a pullback towards the support level of 1.2948 as soon as possible. Above it, GBP/USD can attempt a breakout higher in order to rally to the 1.3116 level, where the highs from September 22nd session are located. MACD indicator is supporting that bullish idea.
H1 chart's resistance levels: 1.3037 / 1.3116
H1 chart's support levels: 1.2948 / 1.2901
Trading recommendations for today: Based on the H1 chart, sell (short) orders only if the GBP/USD pair breaks a bearish candlestick; the support level is at 1.2948, take profit is at 1.2901 and stop loss is at 1.2998.
The material has been provided by InstaForex Company - www.instaforex.comFrom www.instaforex.com http://ift.tt/2dccwcx
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