FX.co ★ Daily analysis of GBP/USD for January 09, 2018

The pair is looking to hold the recent support found at the 1.3526 level, which is also giving some boost to the bulls across the board. The 200 SMA at the H1 chart is approaching such area and if GBP/USD manages to do a rebound over there, then the next target would be the resistance level of 1.3589, ahead of the 1.3700 zone.

H1 chart's resistance levels: 1.3589 / 1.3700

H1 chart's support levels: 1.3526 / 1.3451

Trading recommendations for today: Based on the H1 chart, buy (long) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.3589, take profit is at 1.3700 and stop loss is at 1.3480.