On the H1 chart, GBP/USD is still finding strong resistance around the level of 1.4918, because the bullish momentum is not strong enough to do a corrective rally towards the level of 1.4962. A breakout below 1.4852, then we can expect a push lower towards the price zone of 1.4802. The 200 SMA is pointing to the downside. The MACD indicator is in the neutral territory.
H1 chart's resistance levels: 1.4918 / 1.4962
H1 chart's support levels: 1.4852 / 1.4802
Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the GBP/USD pair breaks a bearish candlestick; the support level is found at 1.4852, take profit is at 1.4802, and stop loss is at 1.4904.
The material has been provided by InstaForex Company - www.instaforex.comFor detail explanation and best discovery on daily market trends and news you may visit via Daily analysis of GBP/USD for December 21, 2015 . Thanks for your support.
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