GBP/USD still comatose in a very narrow range across the board, but it remains well consolidated above the 200 SMA at H1 chart. The resistance zone of 1.2875 is still the next target to the upside and it seems that level could be tested, once again, in coming hours. If a breakout happens over there, bulls will gain strength to continue with the advance towards new highs.
H1 chart's resistance levels: 1.2875 / 1.3029
H1 chart's support levels: 1.2728 / 1.2652
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 1.2875, take profit is at 1.3029 and stop loss is at 1.2723.
The material has been provided by InstaForex Company - www.instaforex.com