FX.co ★ Daily analysis of GBP/USD for December 08, 2016

The pair plunged once again during Wednesday's session, but the dynamic support offered by the 200 SMA on H1 chart remains intact across the board. If GBP/USD manages to rebound and test the next resistance around 1.2732, it would be expected to attempt a rally towards the 1.2840 level. MACD indicator is favoring the bullish scenario.

H1 chart's resistance levels: 1.2732 / 1.2840

H1 chart's support levels: 1.2625 / 1.2568

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 1.2732, take profit is at 1.2840 and stop loss is at 1.2625.