Technical analysis of GBP/USD for May 02, 2017

From H1 chart we can see this pair currently looks like downside and also standing below of daily pivot level, but yet not break any support level, i think for today there are more possibility available to break daily 1st support 1.2862 level, if today it break this level then it will try to break daily 2nd support 1.2840 level.

By observation on technical indicators and moving averages we can see this pair currently on bearish trend, but it not strongly, i think for entry on short position we should wait until breaking daily 1st support 1.2862 level.

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