The pair gained momentum during Tuesday's session amid weakness seen in the US Dollar across the markets. Currently, GBP/USD is attempting a bullish consolidation above the resistance level of 1.2826, targeting the next key barrier around 1.2881. If the pair manages to retrace, it's possible to see a decline towards 1.2756.
H1 chart's resistance levels: 1.2826 / 1.2881
H1 chart's support levels: 1.2756 / 1.2710
Trading recommendations for today: Based on the H1 chart, sell (short) orders only if the GBP/USD pair breaks a bearish candlestick; the support level is at 1.2756, take profit is at 1.2710 and stop loss is at 1.2802.
The material has been provided by InstaForex Company - www.instaforex.com
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