The Cable has been doing a rebound since the start of the week, as it's very close to the 200 SMA price zone, where a resistance can be found. If GBP/USD does a pullback around it, then we can expect another decline to test the support level of 1.4316. Another scenario could be a possible breakout above the 1.4330 level, a volatile price level, that could push the pair higher to the 1.4549 level.
H1 chart's resistance levels: 1.4430 / 1.4549
H1 chart's support levels: 1.4316 / 1.4222
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 1.4316, take profit is at 1.4222 and stop loss is at 1.4408.
