The pair found support once again at the 1.3148 level, where a rebound can happen to re-test the weekly highs around the 1.3266 level. However, in that zone, we can see a strong resistance in place, where the sellers could push lower the Cable towards the 200 SMA. On the other hand, if GBP/USD succeeds to break it, then another rally to the 1.3375 level cannot be discarded.
H1 chart's resistance levels: 1.3266 / 1.3375
H1 chart's support levels: 1.3148 / 1.3076
Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.3266, take profit is at 1.3375 and stop loss is at 1.3155.
