GBP/USD plummeted strongly during the Thursday and Friday's sessions, as the pair is looking to break below 1.2719 in order to test again the post-elections' lows around 1.2660. UK PM Theresa May didn't manage to get a majority, so the Conservatives struggle to earn enough votes to set up a Parliament. That's why the uncertainty surronding Brexit negotiations should keep pressuring the cable.
H1 chart's resistance levels: 1.2826 / 1.2882
H1 chart's support levels: 1.2719 / 1.2660
Trading recommendations for today: Based on the H1 chart, sell (short) orders are recommended only if the GBP/USD pair breaks a bearish candlestick; the support level is at 1.2719, take profit lies at 1.2660 and stop loss is found at 1.2778.
The material has been provided by InstaForex Company - www.instaforex.com