FX.co ★ Daily analysis of GBP/USD for September 19, 2016

GBP/USD is very weak. The breakout below the 1.3000 psychological level is opening the doors to test post-Brexit's lows. There is also a consolidation below the 200 SMA on H1 chart ongoing. Next support to challenge lies at the 1.2948 level, while a strong resistance can be seen at the 1.3116 level. MACD indicator is on negative territory, supporting the bearish idea.

H1 chart's resistance levels: 1.3037 / 1.3116

H1 chart's support levels: 1.2948 / 1.2868

Trading recommendations for today: Based on the H1 chart, sell (short) orders only if the GBP/USD pair breaks a bearish candlestick; the support level is at 1.2948, take profit is at 1.2868 and stop loss is at 1.3029.