The pair managed to recover above the 200 SMA and it's challenging now the strong resistance zone of 1.2516. No major changes from our latest outlook and it seems that GBP/USD will remain trapped inside the sideways structure that it has been trading for several days. Importantly, that a breakout above the 1.2600 psychological level should help the bulls to gain strength on a mid-term basis.
H1 chart's resistance levels: 1.2516 / 1.2567
H1 chart's support levels: 1.2426 / 1.2388
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 1.2516, take profit is at 1.2567 and stop loss is at 1.2467.
The material has been provided by InstaForex Company - www.instaforex.comFrom www.instaforex.com http://ift.tt/2gw2Ava
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