In the daily chart, GBP/USD is tying to reach the resistance zone around 1.5238 in the near term. The bearish force seems getting stronger at the current levels and eventually we could see a break of the support level at 1.5125. In this case, GBP/USD is likely to test the 1.4976 level in the medium term. It should be noted that the 200 SMA is turning flat.
GBP/USD is moving in favor of a pullback towards 1.5185, as the pair is trying to reach the support at 1.5096. The short-term outlook could be bearish, but this would be invalidated by the breakout of the resistance zone around 1.5161, because GBP/USD will rise until the 1.5245 level. The MACD is at negative territory.
Daily chart's resistance levels: 1.5125 / 1.5238
Dailychart's support levels: 1.4976 / 1.4820
H1 chart's resistance levels: 1.5161 / 1.5245
H1 chart's support levels: 1.5096 / 1.5025
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 1.5161, take profit is at 1.5245, and stop loss is at 1.5082.
