Daily analysis of GBP/USD for April 24, 2017

The pair is looking to break higher above 1.2875, as the bulls are
trying to gather enough bullish momentum in order to invalidate that
supply zone. However, GBP/USD has been in consolidation mode since
April 18th and eventually, we could witness some corrective moves
toward the 1.2728 level in a first degree. MACD indicator is turning
positive.

H1 chart’s resistance
levels: 1.2875 / 1.3029

H1 chart’s support levels:
1.2728 / 1.2652

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 1.2875, take profit is at
1.3029 and stop loss is at 1.2723.

The material has been provided by InstaForex Company – www.instaforex.com

Source:: Daily analysis of GBP/USD for April 24, 2017