GBP/USD broke above the resistance level of 1.2539 and now it's headed to reach the 1.2657 zone. If the pair manages to consolidate above that area, we could expect another bullish wave to reach the 1.2718 zone in the short-term. However, the risk to the downside remains alive and the 200 SMA still provides a nice dynamic support.
H1 chart's resistance levels: 1.2657 / 1.2718
H1 chart's support levels: 1.2539 / 1.2420
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 1.2657, take profit is at 1.2718 and stop loss is at 1.2597.
