|Resistance and Support||Level||Explanation|
GBPUSD, H1: GBPUSD was thinly traded following prior rebound from the support level of 1.2600. As the MACD indicator suggests diminished downward momentum, GBPUSD may be traded higher in short-term as technical correction. Long-term trend direction suggests it to extend its downtrend after breaking the support level of 1.2600.
Resistance level: 1.2640, 1.2700
Support level: 1.2600, 1.2550