GBP/USD found resistance once again at the 1.2732 level, which is helping to cap further gains on a short-term basis. With that scenario in place, we can expect a decline towards the 200 SMA zone on H1 chart, as corrective moves could take place for the rest of the week. If the pair manages to consolidate below the 1.2625 level, it can test the 1.2568 zone.
H1 chart's resistance levels: 1.2732 / 1.2840
H1 chart's support levels: 1.2625 / 1.2568
Trading recommendations for today: Based on the H1 chart, buy (long) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.2732, take profit is at 1.2840 and stop loss is at 1.2625.
