Daily analysis of GBP/USD for September 26, 2017

GBP/USD started the week with a bearish gap that was filled during Asian hours of Monday’s session. So far, the pair remains supported by the 200 SMA at H1 chart and looks forward to reaching the resistance zone of 1.3592, at which a breakout should expose the 1.3755 level. If the moving average gives up, declines could take place towards 1.3309.

H1 chart’s resistance levels: 1.3592 / 1.3755

H1 chart’s support levels: 1.3309 / 1.3209

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 1.3592, take profit is at 1.3755 and stop loss is at 1.3430.

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