GBP/USD rallied during Wednesday’s session after the Fed meeting. The 1.3037 level is the next key resistance on the road. If the
pair manages to gain fresh momentum above it, then we may see a
breakout higher towards the 1.3116 level coinciding with the 200
SMA on the H1 chart. This level can act as dynamic resistance.
H1 chart’s resistance
levels: 1.3037 / 1.3116
H1 chart’s support levels:
1.2948 / 1.2868
Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the GBP/USD pair breaks a bearish
candlestick; the support level is at 1.2948, take profit is at 1.2868
and stop loss is at 1.3029.
The material has been provided by InstaForex Company – www.instaforex.com
The post Daily analysis of GBP/USD for September 22, 2016 appeared first on forex-analytics.press.