FX.co ★ Daily analysis of GBP/USD for April 19, 2018

The pair plummeted during Wednesday's session and tested the 200 SMA at H1 chart, where a dynamic support is being found. Around that area, we can expect a demand concentration in order to push it higher towards the resistance level of 1.4386 once it manages to break above 1.4283. MACD indicator remains in the negative territory, favoring to the bears.

H1 chart's resistance levels: 1.4283 / 1.4386

H1 chart's support levels: 1.4205 / 1.4061

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 1.4283, take profit is at 1.4386 and stop loss is at 1.4183.