GBP/USD is still very bearish and is looking to reach new multi-year lows, as the Cable resumed the overall bias, and currently we can find a support around the 1.3148 level. A breakout below it can open the doors to test the next key support around the 1.2874 level. However, because of the decline, we can expect a rebound towards the 1.3380 price zone, something that is being favored by the positive territory shown by the MACD indicator.
H1 chart's resistance levels: 1.3380 / 1.3653
H1 chart's support levels: 1.3148 / 1.2874
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 1.3148, take profit is at 1.2874 and stop loss is at 1.3418.
