GBP/USD made a rebound once again above the 200 SMA at H1 chart and the focus is now placed around 1.3106, where a resistance could be found. Overall, the bullish structure still remains strong and as long as the pair stays above the psychological level of 1.3000, we can expect further strength in the near-term.
H1 chart's resistance levels: 1.3037 / 1.3106
H1 chart's support levels: 1.2968 / 1.2882
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 1.3037, take profit is at 1.3106 and stop loss is at 1.2968.
The material has been provided by InstaForex Company - www.instaforex.com