Daily chart: This pair found resistance at the level of 1.6766, but the GBP/USD remains strong in the bullish bias. If the pair manages to consolidate above this level, it would be expected to rise to the resistance level of 1.6851. On the other hand, it is very likely that the GBP/USD makes a corrective move and fall to the support level of 1.6663, so we must be very cautious. The MACD indicator is in neutral territory.
H4 chart: GBP/USD formed a fractal near to the bullish trend line at the 1.6780 level. Now this pair is making a bearish movement, so it is likely to fall to the support level of 1.6695. On the other hand, if the pair manages to make a breakout at the 1.6822 level, it's expected to rise to the resistance level of 1.6950 in the medium term. The MACD indicator is in positive territory.
H1 chart: The GBP/USD had a bullish momentum thanks to a bullish movement from the point of control at the level of 1.6715. However, this pair found strong resistance at the level of 1.6750. If the pair manages to make a breakout at that level, it would be expected to rise to the resistance level of 1.6800. The MACD indicator is entering negative territory.
Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.6750, take profit is at 1.6800, and stop loss is at 1.6700.
