FX.co ★ Daily analysis of GBP/USD for May 25, 2016

The H1 chart is already telling us that the сable is finding strong dynamic support above the 200 SMA, where we expect to see a further upside toward the 1.4700 level, but a pullback cannot be discarded at this stage yet. If it happens, a decline is expected to take place until the support level of 1.4569 in the near term.

H1 chart's resistance levels: 1.4662 / 1.4692

H1 chart's support levels: 1.4622 / 1.4569

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 1.4662, take profit is at 1.4692 and stop loss is at 1.4550.