FX.co ★ Daily analysis of GBP/USD for May 30, 2018

GBP/USD is making new lows and it managed to break below the key support placed around 1.3264. However, it retraced from that area and a consolidation is ongoing. The 200 SMA is still guiding the road of the pair in the short-term and that's why we would like to see a leg lower towards the 1.3173 level. MACD indicator is entering the positive territory, calling for further rebounds.

H1 chart's resistance levels: 1.3341 / 1.3455

H1 chart's support levels: 1.3264 / 1.3173

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 1.3264, take profit is at 1.3173, and stop loss is at 1.3354.