Daily analysis of GBP/USD for September 21, 2017

The pair has been consolidating gains around 1.3592 and still awaits to break above it in order to gain momentum towards the 1.3755 level. The 200 SMA on H1 chart is still setting the tone for GBP/USD in the short term. Any dip could be an opportunity to buy the Cable. However, a pullback at the current stage could open the doors to test the 1.3309 level.

1505929055_GBPUSDH1.png

H1 chart's resistance levels: 1.3592 / 1.3755

H1 chart's support levels: 1.3309 / 1.3209

Trading recommendations for today: Based on the H1 chart, buy (long) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.3592, take profit is at 1.3755 and stop loss is at 1.3430.

The material has been provided by InstaForex Company - www.instaforex.com