The pair remains supported by the 200 SMA at H1 chart amid geopolitical concerns and UK elections' result, which could be very decisive for the future of Brexit negotiations. Once the resistance level of 1.2962 is broken, then we might expect a rally towards 1.3018, while a pullback and a break below 1.2892, can make GBP/USD to test the 1.2845 zone.
H1 chart's resistance levels: 1.2962 / 1.3018
H1 chart's support levels: 1.2892 / 1.2845
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 1.2892, take profit is at 1.2845 and stop loss is at 1.2939.
