On the H1 chart, we should note a decline towards the support level of 1.4802, after bears were controling the situation during Tuesday's session. By the way, we can expect a rebound until the resistance level of 1.4852 is a part of the corrective moves. It also should be noted that the 200 SMA on this timeframe is slightly bearish.
H1 chart's resistance levels: 1.4852 / 1.4918
H1 chart's support levels: 1.4802 / 1.4731
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 1.4802, take profit is at 1.4731, and stop loss is at 1.4873.
