GBP/USD plummeted across the board on Tuesday following UK data that added pressure to the Sterling. So far, the pair is challenging the support level of 1.3480, where a breakout should open the doors to test the 1.3342 level and such move should strengthen the bearish bias for the short-term. MACD indicator remains in favor of the bears, as it stays in the negative territory.
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.
