Daily chart: The GBP/USD remains above the support level of 1.7000 without major changes in the current trend. Now this pair is trying to climb toward the resistance level of 1.7169, so it is very likely that this pair will continue forming a lower high pattern as part of the corrective movements. The MACD indicator is in positive territory.
H4 chart: The GBP/USD is moving in low range below the bullish trend line at the level of 1.1740, so far, this pair will try to make a bullish rebound above the support level of 1.6995 to continue the bullish bias. For now, the GBP/USD remains above the 200 SMA. MACD is in negative territory.
H1 chart: The GBPUSD has again found resistance at the 1.7050 level and this pair is trying to make a rebound on the support level of 1.7000, which is close to the area of the point of control. If the pair manages to make a breakout at the 1.7050 level, it's expected to rise to the resistance level of 1.7100. The MACD indicator is oversold.
Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.7050, take profit is at 1.7100, and stop loss is at 1.7000.
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