The pair gained a strong bullish momentum during Monday's session, consolidating above the 1.2650 level across the board, following a dynamic support provided by the 200 SMA on H1 chart. If GBP/USD manages to break above the key area of 1.2700, it should reach the highs from December 6th, but the bullish bias is still limited below that zone.
H1 chart's resistance levels: 1.2700 / 1.2763
H1 chart's support levels: 1.2613 / 1.2551
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 1.2700, take profit is at 1.2763 and stop loss is at 1.2637.
The material has been provided by InstaForex Company - www.instaforex.comFrom www.instaforex.com http://ift.tt/2hoS3Cu
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