GBP/USD remained steady during Thursday's session, despite U.K data released early in the morning. Currently, the support level of 1.2761 remains on hold and the pair should challenge it in order to aim for a consolidation lower and to target towards the 1.2647 level. Overall, price action continues to favor the bears. MACD indicator is entering the neutral territory.
H1 chart's resistance levels: 1.2843 / 1.2958
H1 chart's support levels: 1.2761 / 1.2647
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 1.2761, take profit is at 1.2647 and stop loss is at 1.2873.
The material has been provided by InstaForex Company - www.instaforex.com
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