Daily analysis of GBP/USD for December 19, 2017

The pair has found support in the 1.3303 level and one could expect a consolidation once again above the 200 SMA at H1 chart. That's the last hurdle before to reach the resistance zone of 1.3444. If it manages to break above that area, gains are expected to take place towards the 1.3516 level. MACD indicator remains in the positive territory.


H1 chart's resistance levels: 1.3444 / 1.3516

H1 chart's support levels: 1.3303 / 1.3234

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 1.3444, take profit is at 1.3516 and stop loss is at 1.3372.

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