GBP/USD is making some higher recover moves towards the resistance level of 1.5142, where a strong pullback could happen, as the Cable is still forming a lower low pattern on H1 chart. 200 SMA is turning into the neutral territory. However, if the pair does a breakout below 1.5062, then we can see more weakness for the short term. MACD indicator is on the positive territory.
H1 chart's resistance levels: 1.5142 / 1.5176
H1 chart's support levels: 1.5100 / 1.5062
Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the GBP/USD pair breaks a bearish candlestick; the support level is at 1.5100, take profit is at 1.5062, and stop loss is at 1.5137.
