FX.co ★ Daily analysis of GBP/USD for December 02, 2016

The pair had a strong bullish momentum during Thursday's session and it's expected to remain supported by the 1.2570 level across the board. However, we cannot discard a possible breakout lower to accelerate the downside move towards the 1.2504 level, where it's located a strong demand zone at H1 chart. MACD indicator is calling for that scenario.

H1 chart's resistance levels: 1.2630 / 1.2674

H1 chart's support levels: 1.2570 / 1.2504

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 1.2630, take profit is at 1.2674 and stop loss is at 1.2586.