GBPUSD fell on Wednesday. The technical bias is bearish due to lower lows in the recent downtrend.
The pair is currently trading near 1.41106, and multiple resistance levels can be seen above which may prevent the price from rising further.
- Resistance level 1: 1.41300
- Resistance level 2: 1.41500
- Resistance level 3: 1.41820
Below the price, multiple support levels can be seen which may prevent the price from falling.
- Support level 1: 1.40900
- Support level 2: 1.40700
- Support level 3: 1.40380
The United States will announce the May inflation data today. Higher number will indicate beneficial to the US dollar, so it is negative for the GBPUSD currency pair, and vice versa.
Looking at the current price trend and economic development, it may be a good trading choice to buy the GBPUSD currency pair near the current level.