FX.co ★ Daily analysis of GBP/USD for April 24, 2017

The pair is looking to break higher above 1.2875, as the bulls are trying to gather enough bullish momentum in order to invalidate that supply zone. However, GBP/USD has been in consolidation mode since April 18th and eventually, we could witness some corrective moves toward the 1.2728 level in a first degree. MACD indicator is turning positive.

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.