GBP/USD has found a strong resistance in the 200 SMA vicinity and is looking forward to testing the October 6th lows in coming days. Following that pullback, the pair is forming a fractal around the 1.3150 level and possibly this is the move before resuming the bearish bias. To the upside, the moving average remains as a critical level.
H1 chart's resistance levels: 1.3195 / 1.3309
H1 chart's support levels: 1.3037 / 1.2914
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 1.3037, take profit is at 1.2914 and stop loss is at 1.3161.
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