Daily analysis of GBP/USD for December 28, 2017

GBP/USD has gained momentum above the 200 SMA and it's on the way to reach the resistance zone of 1.3444. If that level gets broken, the pair could scope to test the next barrier at 1.3516. To the downside, there is still located a critical level at 1.3303, at which a breakout should deliver bears in order to test the support level of 1.3234.


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