FX.co ★ Daily analysis of GBP/USD for April 19, 2017

GBP/USD gained strong bullish momentum on Tuesday following UK PM Theresa May's announcement of a snap election for June 8th. In a technical view, the pair managed to consolidate above the 1.2700 handle. During the American session, we saw another bullish wave to reach six months highs above 1.2800. The next resistance lies at 1.2875, where a breakout should expose the 1.3029 level.

H1 chart's resistance levels: 1.2875 / 1.3029

H1 chart's support levels: 1.2728 / 1.2652

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 1.2875, take profit is at 1.3029 and stop loss is at 1.2723.