GBP USD Technical Analysis October 12, 2023
The GBP rose 0.26% against the USD on Wednesday and closed at 1.2212. Today in the European session, while the GBP USD Technical Analysis October 12, 2023, is prepared at 5:00 GMT, the GBP/USD is trading at 1.2250, which is 0.50% lower than the USD from yesterday’s close.
The pair is expected to find support at 1.2235 and a fall-through could take it to the next support level of 1.2215 The pair is expected to find its first resistance at 1.2330 and a rise-through could take it to the next resistance level of 1.2375. Today’s expected trading range is between 1.2165 support and 1.2400 resistance.
The expected trend for today is Bearish
Important support levels:
Support 1: 1. 2235
Support 2: 1. 2215
Support 3: 1. 2165
Important resistance levels:
Resistance 1: 1.2330
Resistance 2: 1.2375
Resistance 3: 1.2400
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