Daily chart: The GBP/USD has fallen to the support level of 1.6851 where the pair could perform bullish rebound. However, this does not mean that the bullish outlook is in danger, because if GBP/USD manages to make a breakout at the support level, it is expected to fall to the level of 1.6766. The MACD indicator is entering neutral territory.
H4 chart: GBP/USD found support at the level of 1.6841, after this pair has made a breakout at the level of 1.6900. If GBP/USD manages to make a breakout at the support level of 1.6822, it's expected to fall to the level of 1.6785. Furthermore, if this pair able to consolidate again above the level of 1.6900, it is expected to rise to the level of 1.6980. The MACD indicator is in negative territory.
H1 chart: This pair is trying to consolidate below the 200-day moving average as the GBP/USD found resistance at the point of control that is close to the resistance level of 1.6950. If the pair manages to make a breakout at the support level of 1.6850, it's expected to fall to the level of 1.6800. The MACD indicator is in 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 1.6900, take profit is at 1.6950, and stop loss is at 1.6850.
