On the H1 chart, the GBP/USD pair is finding dynamic support above the 200 SMA, which is close to the support zone of 1.5122. That's why we would like to see a rebound in coming days, as the GBP/USD pair remains alive with a short-term bullish bias. However, a breakout below the level of 1.5079 will invalidate that scenario. The MACD indicator is oversold.
H1 chart's resistance levels: 1.5181 / 1.5238
H1 chart's support levels: 1.5122 / 1.5079
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 seen at 1.5181, take profit is at 1.5238, and stop loss is at 1.5125.
