FX.co ★ Daily analysis of GBP/USD for May 03, 2018

The pair is finding support around 1.3609, where the bulls are trying to push higher across the board, but it seems the current decline is being boosted by strong fractals formed during the road. The nearest target to the downside still lies at 1.3480, but a rebound at the current stage could take it to test the resistance zone of 1.3733.

H1 chart's resistance levels: 1.3733 / 1.3838

H1 chart's support levels: 1.3609 / 1.3480

Trading recommendations for today: Based on the H1 chart, sell (short) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.3609, take profit is at 1.3480 and stop loss is at 1.3743.