The pair holds the support zone of 1.2855, as the week starts with holidays in most of the countries. The resistance level of 1.2957 still provides a strong barrier for buyers and it's helping to cap further caps for the short-term. In the scenario that we witness a breakout below 1.2855, we might expect a decline to test the 1.2772 zone.
H1 chart's resistance levels: 1.2957 / 1.3029
H1 chart's support levels: 1.2855 / 1.2652
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 1.2957, take profit is at 1.3029 and stop loss is at 1.2887.
The material has been provided by InstaForex Company - www.instaforex.com
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