TRENDING:

ECB interest rate

US CPI

GBP/USD should drop towards the 1.2320 level

AAATrade Team AAATrade

GBP/USD

Looking at GBPUSD’s chart, we can see that GBPUSD regained ground, and consequently traded above the level of $1.24.

Today, the FX pair could rest its resistance level at around $1.2420-1.2435, but if it is unable to break through it, then it should drop towards its support level which is located at around $1.2320. In the case where the forex pair passes its resistance level, then it will reach to a new high rate for the year.

Author

AAATrade Team

AAATrade

The AAATrade Team has extensive experience in content writing for the financial industry. Stelios Nikolaou is the lead writer of the team, he currently works at AAATrade to provide research and content writing services.

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