FX.co ★ Daily analysis of GBP/USD for March 17, 2017

The pair managed to rally above the 200 SMA and it's heading towards 1.2400. Following the FOMC decision, GBP/USD is poised to extend its upward path until the 1.2512 level. If the pair develops another bullish pattern, then it's likely to reach the 1.2600 handle. MACD indicator is entering the negative territory, favoring a corrective move.

H1 chart's resistance levels: 1.2409 / 1.2512

H1 chart's support levels: 1.2292 / 1.2197

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 1.2292, take profit is at 1.2197 and stop loss is at 1.2387.