The pair dropped from the resistance level of 1.3595 in an effort to strengthen the bearish bias across the board, following the BoE's interest rate decision to keep the benchmark unchanged. Now, the Cable is challenging the support area of 1.3480 and a breakout below it, should expose the 1.3342 level. MACD indicator stays in the negative territory, favoring to the bears.
H1 chart's resistance levels: 1.3595 / 1.3733
H1 chart's support levels: 1.3480 / 1.3342
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 1.3480, take profit is at 1.3342, and stop loss is at 1.3618.
