Daily analysis of GBP/USD for August 25, 2017

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.

GBPUSDH1.png

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.

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