FX.co ★ Daily analysis of GBP/USD for May 29, 2018

The pair has been trading in a bearish bias across the board and the resistance zone of 1.3342 is helping to cap gains in the short-term. The focus to the downside remains in place at 1.3264, where a breakout should expose the psychological number of 1.3200. However, a recovery might be limited by the 200 SMA on the H1 chart.

H1 chart's resistance levels: 1.3455 / 1.3595

H1 chart's support levels: 1.3342 / 1.3264

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 1.3342, take profit is at 1.3264, and stop loss is at 1.3421.