GBPUSD: Expected To Drop Towards Its Support Level At Around 1.1380
Looking at GBPUSD’s chart, we can see that GBP gained value after yesterday’s victory of Sunak as the new Prime Minister of the United Kingdom.
The FX pair rose from around 1.13 to the current rate of 1.1478. Its big resistance is located at around 1.15, therefore today if it will not be able to pass that level then we should expect the rate to drop towards its support level at around 1.1380 otherwise it could rise towards its next resistance level at around 1.1560.
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