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EUR/USD Intraday Technical Analysis

The GBP/USD pair continues to strengthen the bullish bias above the support level of 1.5247, because the pair has a very clear target at the area of 1.5491. In the first hours of Monday's session, the GBP/USD pair is expected to move in favor of the bullish trend, but with the formation of a higher high pattern. The MACD indicator on the daily chart is still on the positive territory.
GBPUSDDaily.png

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On the H1 chart, the GBP/USD pair found resistance next to the 1.5350 level. On that area, the pair did a pullback towards the support level of 1.5210, where the GBP/USD pair performed a little rebound that could be a bearish pattern in the short term. Anyway, the pair could resume the bullish bias in the coming area, because the 200 SMA could serve as dynamic support.
GBPUSDH1.png

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Daily chart's resistance levels: 1.5491 / 1.5637 Dailychart's support levels: 1.5247 / 1.5025 H1 chart's resistance levels: 1.5249 / 1.5302 H1 chart's support levels: 1.5210 / 1.5166

Trading recommendations for today: Based on the H1 chart, place long (buy) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.5249, take profit is at 1.5302, and stop loss is at 1.5196.

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Uitgevoerd door, Analytische expert
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