The GBP / USD pair has been trading in a range of about 380 pips since the beginning of July and now seems to test the lower end of this range again at 1.5456 (Daily Fractal).
The level of 1.5515 is a very strong resistance, only a break and close above this level can lead to the next resistance of 1.5624
Furthermore, according to the weekly pivot, we have a very strong support 1.5400 demonstrating an imminent rebound, so we recommend buying at 1.5400, but 1.54 breaks below our stop loss, it is placed at 1.5350.
So if you looking to go short or long with the GBP / USD, often taking profits at key levels and get used to operating on channels, as this is a strong feature in this pair, at least from the perspective of the daily chart. The MACD indicator is showing an upward sequence.
If you need a personal consultation, contact me via e-mail: gerardo.porras@analytics.instaforex.com
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