The pair broke yesterday's lows and it's now facing support around 1.2327. Currently, we can expect bearish continuation towards the 1.2249 level, but corrective moves could take place in coming days, as the sterling is getting exhausted in the current bias and MACD indicator is favoring this recovery scenario across the board.
H1 chart's resistance levels: 1.2397 / 1.2462
H1 chart's support levels: 1.2327 / 1.2249
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 1.2327, take profit is at 1.2249 and stop loss is at 1.2407.
The material has been provided by InstaForex Company - www.instaforex.comFrom www.instaforex.com http://ift.tt/2h0Hwfs
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