Donald Trump's press conference brought volatility to the financial markets, as the US dollar weakened across the board against the Sterling, which is now testing the resistance zone of 1.2247, around the 200 SMA zone at H1 chart. If the pair manages to break above that area, it could rally toward 1.2293, while a pullback can take GBP/USD to test the 1.2123 level.
H1 chart's resistance levels: 1.2247 / 1.2293
H1 chart's support levels: 1.2175 / 1.2123
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 1.2175, take profit is at 1.2123 and stop loss is at 1.2228.
