29.09.201623:28 Forex Analysis & Reviews: Daily analysis of GBP/USD for September 30, 2016

Long-term review

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GBP/USD had a bearish session during Thursday, as the market moved into a downside bias across the board and the Sterling was one of the most affected. That wave allowed the pair to test zone near to 1.2948 level, where is located a key support area. If manages to break it, then we can expect another decline towards the 1.2901 level.

H1 chart's resistance levels: 1.3037 / 1.3116

H1 chart's support levels: 1.2948 / 1.2901

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 1.2948, take profit is at 1.2901 and stop loss is at 1.2998.

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