The bulls are still dominating the major pairs as the weakness on the US Dollar remains very strong, following the bad data from the United States last week. A resistance can be found at the 1.3375 level, where a breakout should happen to trigger more bullish force towards the 1.3467 level. MACD indicator is reaching overbought conditions.
H1 chart's resistance levels: 1.3375 / 1.3467
H1 chart's support levels: 1.3266 / 1.3148
Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.3375, take profit is at 1.3467 and stop loss is at 1.3285.
The material has been provided by InstaForex Company - www.instaforex.com