Daily analysis of GBP/USD for September 27, 2017

The pair has made a new low below the 200 SMA at H1 chart and it’s poised to test the support zone of 1.3309. The resistance zone of 1.3592 remains as a strong barrier for buyers and we can expect further declines in GBP/USD. Besides, the focus remains in a corrective phase and if the pair manages to consolidate below 1.3309, a decline is expected to take place towards 1.3209.

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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