The pair is recovering from Tuesday's lows across the board, as the resistance level of 1.4205 is getting closer. If a breakout happens over there, then a corrective move should take place towards the 200 SMA at H1 chart, where we could expect a pullback. If that happens, GBP/USD will consolidate below the 1.4000 handle.
H1 chart's resistance levels: 1.4283 / 1.4386
H1 chart's support levels: 1.4205 / 1.4061
Trading recommendations for today: Based on the H1 chart, sell (short) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.4004, take profit is at 1.3945 and stop loss is at 1.4064.
