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FX.co ★ Daily analysis of GBP/USD for March 28, 2017

Daily analysis of GBP/USD for March 28, 2017

GBP/USD broke above the resistance level of 1.2539 and now it's headed to reach the 1.2657 zone. If the pair manages to consolidate above that area, we could expect another bullish wave to reach the 1.2718 zone in the short-term. However, the risk to the downside remains alive and the 200 SMA still provides a nice dynamic support.

Daily analysis of GBP/USD for March 28, 2017

H1 chart's resistance levels: 1.2657 / 1.2718

H1 chart's support levels: 1.2539 / 1.2420

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 1.2657, take profit is at 1.2718 and stop loss is at 1.2597.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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