FX.co ★ Daily analysis of GBP/USD for July 21, 2016

GBP/USD is looking to consolidate higher above the 200 SMA on the H1 chart. The pair is eyeing the 1.3300 psychological level. The Cable has been seeing some bearish momentum the week, but following the BoE Forbes' words yesterday, it performed a rebound and now looks to trade into a bullish bias once again. If the pair breaks above that resistance, then it can test the 1.3459 level.

H1 chart's resistance levels: 1.3300 / 1.3459

H1 chart's support levels: 1.3148 / 1.3001

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.3300, take profit is at 1.3459 and stop loss is at 1.3139.