FX.co ★ Daily analysis of GBP/USD for July 20, 2017

The pair has been in a consolidation tone since Wednesday's session and looks for a catalyst that triggers longs. We're expecting such scenario due to the current position of the 200 SMA at H1 chart and if that happens, then we would like to see an advance towards 1.3106. If it manages to break above it, the next target should be the 1.3238 zone.

H1 chart's resistance levels: 1.3106 / 1.3238

H1 chart's support levels: 1.3026 / 1.2968

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 1.3106, take profit is at 1.3238 and stop loss is at 1.2971.