GBP USD Technical Analysis October 19, 2023
The GBP declined 0.34% against the USD on Wednesday and closed at 1.2158. Today in the European session, while the GBP USD Technical Analysis October 19, 2023, is prepared at 5:00 GMT, the GBP/USD is trading at 1.2105, which is 0.28% lower than the USD from yesterday’s close.
The pair is expected to find support at 1.2100 and a fall-through could take it to the next support level of 1.2085 The pair is expected to find its first resistance at 1.2160 and a rise-through could take it to the next resistance level of 1.2200. Today’s expected trading range is between 1.2040 support and 1.2220 resistance.
The expected trend for today is Bearish
Important support levels:
Support 1: 1. 2100
Support 2: 1. 2085
Support 3: 1. 2040
Important resistance levels:
Resistance 1: 1.2160
Resistance 2: 1.2200
Resistance 3: 1.2220
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