Thursday was volatile for GBP/USD, as the UK GDP data was released early in the European session, showing a slow improvement post-Brexit. However, Cable erased its gains quickly and now we're seeing a decline towards the support level of 1.2155. If we see a breakout below that zone, then the 1.2105 level is highly expected to be reached.
H1 chart's resistance levels: 1.2229 / 1.2310
H1 chart's support levels: 1.2155 / 1.2105
Trading recommendations for today: Based on the H1 chart, sell (short) orders only if the GBP/USD pair breaks a bearish candlestick; the support level is at 1.2155, take profit is at 1.2105 and stop loss is at 1.2208.
