10:13, 20 May
U.K.’s PPI and CPI data came in below the market consensus in the morning. The GBPUSD declined somewhat after these data. The pair had fluctuated yesterday. So we do not see any clear direction in short term.
1.2240 is the first support level for the pair. If the pair breaks this level, then we may see selling pressure until 1.2200 level.
Resistance levels: 1.2280 – 1.2300 – 1.2330
Support levels: 1.2240 – 1.2200 – 1.2180