GBP/USD remains alive in the bullish outlook, despite the the fact that a sideways range hasn't been broken in the short term. The support area of 1.2855 still gives a nice demand zone to enable the bulls to gather momentum. Thus, the upward bias is the preferred scenario and that's why we would like to see a break above 1.2957 in order to witness further gains toward the 1.3029 level.
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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