Daily chart: GBP/USD has made a pullback near resistance level of 1.6851. This pair is likely to fall to the support level of 1.6766. If GBP/USD manages to make a breakout at that level, it would be expected to fall to the support level of 1.6663, which would help the bearish trend again be the stronger in this chart. The MACD indicator is in neutral territory.
H4 chart: The GBP/USD stays below the resistance level of 1.6822, which is above the 200-day moving average now, the GBP/USD is trying to form a lower high pattern to continue rising.. If the pair manages to make a breakout on the resistance level of 1.6841, it's expected to rise to the level of 1.6900. The MACD indicator is in the overbought zone.
H1 chart: This pair has moved to a low range above the support level of 1.6800. For now, the GBP/USD is trying to consolidate its bullish trend, but it's likely that this pair try a breakout on the resistance level of 1.6850. If successful, it is expected to rise to the level of 1.6900. The MACD indicator is in neutral 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 1.6850, take profit is at 1.6900, and stop loss is at 1.6750.
