The GBP/USD pair will continue to rise from the level of 1.3711. The support is found at the level of 1.3711. The price is likely to form the double bottom on the H4 time frame. Today, the major support is seen at 1.3711, while immediate resistance is seen at 1.3789. Accordingly, the GBP/USD pair is showing signs of strength following a breakout of a high at 1.3711. So, buy above the level of 1.3711 with the first target at 1.3789 in order to test the daily resistance 1 and move further to 0.3868. Also, the level of 0.3868 is a good place to take profit because it will form a major resistance today. Amid the previous events, the pair is still in an uptrend; for that we expect the GBP/USD pair to climb from 1.3711 to 0.3868. At the same time, in case a reversal takes place and the GBP/USD pair breaks through the support level of 1.3700, a further decline to 1.3555 can occur, which would indicate a bearish market.
The material has been provided by InstaForex Company - www.instaforex.com
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