GBP/USD is awaiting the BOE interest rate decision. In a technical view, the pair remains capped by a strong resistance placed around 1.2957, formed by a congestion zone which has been holding since April 28th. If the cable manages to break it, then we can expect a bullish acceleration towards the 1.3030 hurdle.
H1 chart's resistance levels: 1.2957 / 1.3029
H1 chart's support levels: 1.2855 / 1.2652
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 1.2957, take profit lies at 1.3029 and stop loss is found at 1.2887.
