FX.co ★ Daily analysis of GBP/USD for June 05, 2018

GBP/USD managed to recover from Friday's lows and it seems there is a bullish consolidation above the 200 SMA at H1 chart. The focus is now on the 1.3455 level, where a strong resistance level lies. To the downside, a pullback should take the pair to re-test the support zone of 1.3264. A breakout below there should expose the 1.3173 level.

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.