Daily chart: The GBP/USD has made a bullish rebound above the support level of 1.6851, so the bullish bias remains intact, because this pair continues forming a bullish pattern above that level. If the pair manages to make a breakout at the 1.6900 level, it's expected to rise to the resistance level of 1.7000. The MACD indicator is in positive territory.
H4 chart: This pair remains above the support level of 1.6841. The bullish bias for now is very weak, as this pair has moved sideways in a low range. However, if the GBP/USD manages to make a breakout at the resistance level of 1.6900, it's expected to rise to the level of 1.6925. The MACD indicator is entering neutral territory.
H1 chart: The GBP/USD has made a bullish rebound above the support level of 1.6860, at which the nearest point of control is located. Now, this pair will try to make a breakout at the resistance level of 1.6900, which is above the 200-day moving average. If successful, it is expected to rise to the resistance level of 1.6950. The MACD indicator is in positive 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 1.6900, take profit is at 1.6950, and stop loss is at 1.6850.
