Daily analysis of GBP/USD for December 21, 2017

The pair continues to trade inside a narrow range around the 200 SMA at H1 chart and it's now targeting the resistance zone of 1.3444. If it manages to pierce such hurdle, the next target lies at 1.3516, at which the bears could be waiting to push lower to the GBP/USD pair. MACD indicator remains in favor of the bulls.


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