The pair is looking to extend the rebound made from the May 29th session and it seems we can find resistance in the 200 SMA at H1 chart. Around that area, Cable could make a pullback to resume the bearish tone and eventually it might print fresh lows. However, if bulls are enough strong to break above the 200 SMA, then it can go towards the 1.3455 level.
H1 chart's resistance levels: 1.3341 / 1.3455
H1 chart's support levels: 1.3264 / 1.3173
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 1.3264, take profit is at 1.3173 and stop loss is at 1.3354.
