After having a volatile day due to the BOE's rate decision, GBP/USD started to look for clues in order to strengthen the bearish bias that is being held since the UK elections' results. The support zone of 1.2741 is still the line in the sand for sellers, where a breakout should open the doors to test the 1.2660 level across the board.
H1 chart's resistance levels: 1.2826 / 1.2880
H1 chart's support levels: 1.2741 / 1.2660
Trading recommendations for today: Based on the H1 chart, sell (short) orders only if the GBP/USD pair breaks a bearish candlestick; the support level is at 1.2741, take profit is at 1.2660 and stop loss is at 1.2823.
The material has been provided by InstaForex Company - www.instaforex.com