The pair plummeted below the 1.2600 handle following the Fed's decision to raise rates by 25 basis points in their December's meeting. Currently, GBP/USD is consolidating below the 200 SMA and a breakout below the 1.2551 level should open the doors to test the 1.2497 price zone. MACD indicator is on the negative territory.
H1 chart's resistance levels: 1.2637 / 1.2700
H1 chart's support levels: 1.2551 / 1.2497
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 1.2637, take profit is at 1.2700 and stop loss is at 1.2574.
The material has been provided by InstaForex Company - www.instaforex.comFrom www.instaforex.com http://ift.tt/2hwafNi
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