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Spotlight on GBPUSD. The latest daily technical analysis by AAATrade reveals the key support and resistance levels that each of these assets is likely to reach today. Look at the charts and our market analysts’ observations below and gain a fresh perspective on trading.
 

GBPUSD

Looking at GBPUSD’s chart, we can see that the Forex pair had picked at around 1.2540 and then dropped to around $1.2355 whereas currently, it has corrected to the rate of $1.2480. 

Today, we expect the FX pair to be traded in the range between the support and resistance level from $1.2425 to $1.2530 until today’s announcement on Building permits at 16:30 (GMT+3) and Consumer Confidence and New Home Sales at 17:00 (GMT+3). 

A breakthrough of the resistance level could lead to a higher rate whereas, on the other hand, a breakdown of the support level should lead to the approach towards the next support level at around $1.2350.

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