GBPUSD

10:18, 13 May

GBPUSD

U.K. economy contracted by 1.6% YoY in Q1 below the market expectations of -2.1%. the GPB appreciates after this GDP data.  

1.2250 is the key support level for the pair. We expect that up movements if the pair stays above this level. However 1.2340 is the main resistance level in short term.  

Resistance levels: 1.2310 – 1.2350 – 1.2380 
Support levels: 1.2250 – 1.2220 – 1.2200