GBP USD Technical Analysis May 18, 2023
The GBP declined 0.04% against the USD on Wednesday and closed at 1.2485. Today in the European session, while the GBP USD Technical Analysis May 18, 2023, is prepared at 5:00 GMT, the GBP/USD is trading at 1.2433, which is 0.42% lower than the USD from yesterday’s close.
The pair is expected to find support at 1.2425 and a fall-through could take it to the next support level of 1.2390 The pair is expected to find its first resistance at 1.2500 and a rise-through could take it to the next resistance level of 1.2540. Today’s expected trading range is between 1.2355 support and 1.2560 resistance.
The expected trend for today is Bearish
Important support levels:
Support 1: 1. 2424
Support 2: 1. 2390
Support 3: 1. 2355
Important resistance levels:
Resistance 1: 1.2500
Resistance 2: 1.2540
Resistance 3: 1.2560
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