The cable had a very bullish day yesterday, consolidating gains above the 200 SMA on the H1 chart. Currently, a resistance can be found at the 1.3170 level where a breakout should happen to rally towards the 1.3258 level. Overall, our view is still on the bulls' side, as GBP/USD rebounded above the moving average.
H1 chart's resistance levels: 1.3170 / 1.3258
H1 chart's support levels: 1.3085 / 1.3000
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 lies at 1.3170, take profit is at 1.3258 and stop loss is at 1.3081.
