The pair managed to recover from its losses during Thursday as the price action still favors to further gains. However, such move could be capped by the 200 SMA on H1 chart, where it coincides with the resistance level of 1.3455. A breakout below the support zone of 1.3342 will help to add further bearish pressure towards the 1.3264 level.
H1 chart's resistance levels: 1.3455 / 1.3595
H1 chart's support levels: 1.3342 / 1.3264
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 1.3342, take profit is at 1.3264 and stop loss is at 1.3421.
