FX.co ★ Daily analysis of GBP/USD for May 21, 2018

The pair keeps capped by the 200 SMA at H1 chart and bears are trying to gather momentum to continue adding pressure in the short-term. Doors will open for a decline towards the 1.3342 level, as the price action still favors to such scenario. However, a rebound at the current stage should take the GBP/USD pair to test the 1.3595 level.

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.