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.

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GBPUSD

Looking at GBPUSD’s chart, we can see that after the last Tuesday’s announcement on CPI, the FX pair is in a downtrend, and currently it is flirting with the level of $1.20. 

Today, we should expect a clear direction after the announcement of the UK’s PMI. Currently, the support level is located at around $1.1990 with the resistance level being at around $1.21, and depending on the announcement, it could either test and break through the level of $1.21, with the possibility to approach the next resistance level at around $1.2170, or to test the next support level at around $1.1930. 

AAATrade Market Research Department.

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