On H1 chart, GBP/USD had another bearish session. The pair challenged new fresh multi-year lows around the 1.2858 level, where the pair already formed a new support on the road. A rebound from the current levels will drive it to test again the psychological zone of 1.3000, but the risk to the downside remains alive as the 200 SMA is still bearish.
H1 chart's resistance levels: 1.3000 / 1.3148
H1 chart's support levels: 1.2858 / 1.2750
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 1.3000, take profit is at 1.2858 and stop loss is at 1.3148.
