FX.co ★ Daily analysis of GBP/USD for April 02, 2018

The pair had no major action on Friday as the Easter holidays came in. Currently, the price action is consolidating below the 200 SMA at H1 chart and it can plummet to re-test the support zone of 1.3985. However, as long as GBP/USD stays above the 1.40 handle, we can expect further gains to attempt a consolidation above the moving average.

H1 chart's resistance levels: 1.4166 / 1.4225

H1 chart's support levels: 1.4061 / 1.3985

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 1.4166, take profit is at 1.4225, and stop loss is at 1.4108.