GBP USD Technical Analysis May 11, 2023
The GBP rose 0.05% against the USD on Wednesday and closed at 1.2625. Today in the European session, while the GBP USD Technical Analysis May 11, 2023, is prepared at 5:00 GMT, the GBP/USD is trading at 1.2584, which is 0.30% lower than the USD from yesterday’s close.
The pair is expected to find support at 1.2580 and a fall-through could take it to the next support level of 1.2560 The pair is expected to find its first resistance at 1.2600 and a rise-through could take it to the next resistance level of 1.2640. Today’s expected trading range is between 1.2500 support and 1.2675 resistance.
The expected trend for today is Bearish
Important support levels:
Support 1: 1. 2565
Support 2: 1. 2550
Support 3: 1. 2500
Important resistance levels:
Resistance 1: 1.2600
Resistance 2: 1.2640
Resistance 3: 1.2675
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