03.04.201800:11 Forex Analysis & Reviews: Daily analysis of GBP/USD for April 03, 2018

Long-term review

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GBP/USD found dynamic resistance in the 200 SMA at the H1 chart and there are attempts to extend the retracement above such indicator. If that happens, we can expect further gains toward the resistance zone of 1.4166, which should strengthen the bullish bias for the short-term, while a pullback at the current stage could unleash the bearish force to test the support level of 1.3985.

H1 chart's resistance levels: 1.4166 / 1.4225

H1 chart's support levels: 1.4061 / 1.3985

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 1.4166, take profit is at 1.4225 and stop loss is at 1.4108.

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