The pair found resistance at the 1.3258 level and now it's expected to remain in sideways ahead of Jackson Hole due today. Currently, GBP/USD is supported by the 1.3170 price zone, which is very close to the 200 SMA. Now, we could expect a rally towards the 1.3258 level, where a breakout should happen in order to test the 1.3358 level.
H1 chart's resistance levels: 1.3258 / 1.3358
H1 chart's support levels: 1.3170 / 1.3085
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 1.3258, take profit is at 1.3358 and stop loss is at 1.3158.
