The pair doesn't have enough momentum in order to consolidate the price action above the 200 SMA on the H1 chart. The risk to the downside remains high, as GBP/USD is close to reaching the support zone of 1.3303. If that level gives up, the next target for the Cable should be the 1.3234 level. MACD indicator remains in favor of the bears.
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.
