Technical Analysis Daily: GBP/USD

GBP/USD 1.7431

GBP/USD Open 1.7019 High 1.7600 Low 1.7140 Close 1.7270

The British Pound also descended significantly yesterday against the US Dollar from Wednesday's top 1.7600 to this morning's bottom 1.7140, which are the first support and resistance levels respectively for the currency couple today. If the negative trend continues, as we expect for the moment, next support for today is expected at 1.7060, the break of which would lead to next target 1.6975. In upward direction next resistance further up is expected at 1.7685, followed by 1.7780.

Technical resistance levels: 1.7600 1.7685 1.7780
Technical support levels: 1.7140 1.7060 1.6975

Trading range: 1.7270 - 1.7205

Trend: Downward

Sell at 1.7258 SL 1.7288 TP 1.7218

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