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FX.co ★ Daily analysis of GBP/USD for July 28, 2017

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Forex Analysis:::2017-07-27T19:35:54

Daily analysis of GBP/USD for July 28, 2017

The pair suffered some losses during Thursday's session post-Fed and it seems that the 200 SMA in the H1 chart could act as a dynamic support. The overall bullish bias remains intact as long as the GBP/USD pair holds Wednesday's lows. However, if the support level of 1.3034 gives up, then we might expect a decline towards 1.2968.

Daily analysis of GBP/USD for July 28, 2017

H1 chart's resistance levels: 1.3106 / 1.3148

H1 chart's support levels: 1.3034 / 1.2968

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 1.3106, take profit is at 1.3148 and stop loss is at 1.3062.

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