FX.co ★ Daily analysis of GBP/USD for May 10, 2018

GBP/USD is looking to recover across the board as the support zone of 1.3480 remains intact. Bulls appear to lose steam at the current stage, where is located a strong resistance around 1.3595. If a breakout happens over there, then we might expect a rally to reach the 1.3733 zone. To the downside, if the 1.3480 level gives up, doors will open for a fall towards the 1.3342 area.

H1 chart's resistance levels: 1.3595 / 1.3733

H1 chart's support levels: 1.3480 / 1.3342

Trading recommendations for today: Based on the H1 chart, sell (short) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.3480, take profit is at 1.3342 and stop loss is at 1.3618.