FX.co ★ Daily analysis of GBP/USD for March 21, 2018

The pair is off from March 19th highs following a momentum gained during the announcement of a deal reached to avoid a "hard Brexit". The price action is now looking to break below 1.3988 in order to re-test the 200 SMA on H1 chart, which is currently providing dynamic support across the board. Such moving average is ahead of the support level at 1.3849.

H1 chart's resistance levels: 1.3988 / 1.4078

H1 chart's support levels: 1.3849 / 1.3753

Trading recommendations for today: Based on the H1 chart, sell (short) orders only if the GBP/USD pair breaks a bearish candlestick; the resistance level is at 1.3849, take profit is at 1.3753 and stop loss is at 1.3948