FX.co ★ Daily analysis of GBP/USD for June 06, 2017

GBP/USD got fresh momentum during Monday's session, as the liquidity favored to the Sterling across the markets. Currently, the pair is consolidating its gains above the 200 SMA at H1 chart and it looks like the nearest target is placed around 1.2962. To the downside, we expect supports at the 1.2845 and 1.2791 levels.

H1 chart's resistance levels: 1.2911 / 1.2962

H1 chart's support levels: 1.2845 / 1.2791

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 1.2845, take profit is at 1.2791 and stop loss is at 1.2900.