FX.co ★ Daily analysis of GBP/USD for October 11, 2017

GBP/USD is doing a breakout of the resistance level of 1.3195 and it's opening the doors to test the next barrier lying at 1.3309, but currently, the pair is capped by the 200 SMA at H1 chart. If it manages to do a pullback, then we might expect a leg lower to test the support zone of 1.3037. MACD indicator is in the positive territory, favoring to the bulls.

H1 chart's resistance levels: 1.3195 / 1.3309

H1 chart's support levels: 1.3037 / 1.2914

Trading recommendations for today: Based on the H1 chart, sell (short) orders only if the GBP/USD pair breaks a bearish candlestick; the support level is at 1.3037, take profit is at 1.2914 and stop loss is at 1.3161.