FX.co ★ Daily analysis of GBP/USD for February 10, 2016

GBP/USD is performing a bullish consolidation above the level of 1.4436 where the 200 SMA is located. Currently, we can expect a push higher towards the level of 1.4535, which is a key inflection area formed during the February 8 session. The fractal structure is also calling for new highs, as the pair is performing a rebound following the main bias.

H1 chart's resistance levels: 1.4535 / 1.4602

H1 chart's support levels: 1.4436 / 1.4369

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 seen at 1.4535, take profit is at 1.4602, and stop loss is at 1.4470.