Daily analysis of GBP/USD for August 25, 2016

GBP/USD posted another day of gains, looking to break the resistance zone of 1.3258, as the bulls remained solid across the board. That movement should open the doors to test the 1.3358 level, as the rally is strengthening. However, if the pair pulls back from that zone, then it can test the 1.3170 level. MACD indicator is entering the negative territory.

GBPUSDH1.png

H1 chart’s resistance levels: 1.3258 / 1.3358

H1 chart’s support levels: 1.3170 / 1.3085

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 1.3258, take profit lies at 1.3358 and stop loss is at 1.3158.

The material has been provided by InstaForex Company – www.instaforex.com

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