The pair performed a decline below the zone of 1.3963, and now we can expect a bearish consolidation above the level of 1.3878, which is a very important support zone on a short-term basis. If the cable achieves in breaking that level to the downside, then we can expect another fall towards the level of 1.3782, which is still our preferred short-term target.
H1 chart's resistance levels: 1.3963 / 1.4069
H1 chart's support levels: 1.3878 / 1.3782
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 seen at 1.3878, take profit is at 1.3782, and stop loss is at 1.3976.
