The pair moved into a bearish bias during Monday and now it's finding dynamic support around the 200 SMA price zone. A rebound can drive it to the resistance level of 1.3266, where also a breakout can happen to reach the 1.3375 level. It seems that the Cable is poised to be trapped into a range before the BoE event this week.
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.
