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GBP USD Technical Analysis May 19, 2023

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GBP USD Technical Analysis May 19, 2023

The GBP declined 0.62% against the USD on Thursday and closed at 1.2407. Today in the European session, while the GBP USD Technical Analysis May 19, 2023, is prepared at 5:00 GMT, the GBP/USD is trading at 1.2450, which is 0.33% higher than the USD from yesterday’s close.

The pair is expected to find support at 1.2395 and a fall-through could take it to the next support level of 1.2370 The pair is expected to find its first resistance at 1.2465 and a rise-through could take it to the next resistance level of 1.2500. Today’s expected trading range is between 1.2390 support and 1.2540 resistance.

The expected trend for today is Bullish

Important support levels:

Support 1: 1. 2395
Support 2: 1. 2370
Support 3: 1. 2390

Important resistance levels:

Resistance 1: 1.2465
Resistance 2: 1.2500
Resistance 3: 1.2540

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