FX.co ★ Daily analysis of GBP/USD for March 06, 2018

The pair holds the support zone of 1.3753 following a sell-off seen in the last few days. The 200 SMA could act as a dynamic resistance that helps to cap further gains in the Cable across the board. If that happens, a pullback is expected to happen in order to resume the bearish bias toward the 1.3608 level. MACD indicator stays in the positive territory.

H1 chart's resistance levels: 1.3881 / 1.4078

H1 chart's support levels: 1.3753 / 1.3608

Trading recommendations for today: Based on the H1 chart, sell (short) orders only if the GBP/USD pair breaks a bearish candlestick; the resistance level is at 1.3753, take profit is at 1.3608 and stop loss is at 1.3901.