GBP/USD gained momentum during Tuesday's session ahead of Fed meeting, as the pair was favored by a recovery move held since Monday. The resistance zone of 1.2753 still provides a good hurdle for buyers but if the pair manages to break above that level, then we might expect a rally towards 1.2826. MACD indicator is in the overbought territory.
H1 chart's resistance levels: 1.2753 / 1.2826
H1 chart's support levels: 1.2660 / 1.2547
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 1.2660, take profit is at 1.2547 and stop loss is at 1.2773.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.