GBP/USD is still alive with an intraday declines held below the resistance level of 1.4918, and now it is expected to test the support zone of 1.4852. A breakout below there will open the doors to another fall towards the level of 1.4802 in coming days. Another scenario is calling for a corrective rebound, which could be possible to happen. The MACD indicator is at the positive territory.
H1 chart's resistance levels: 1.4918 / 1.4962
H1 chart's support levels: 1.4852 / 1.4802
Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the GBP/USD pair breaks a bearish candlestick; the support level is found at 1.4852, take profit is at 1.4802, and stop loss is at 1.4904.
The material has been provided by InstaForex Company - www.instaforex.com