FX.co - GBP/USD analysis for October 10, 2023

2023-10-10T09:37:58

Relevance until2023-10-11

Technical analysis:

GBP/USD analysis for October 10, 2023 - Key resistance on the test

GBP/USD has been trading upside this morning and I found that key pivot level at the price of 1.2275 is on the test.

In case of the breakout of the resistance 1.2275 and hold above, I see potential for the further rally towards 1.2360

In case of the rejection of the key resistance, I see potential for the downside movement towards 1.2210/1.2170

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Petar Jacimovic

FX.co ★ GBP/USD analysis for October 10, 2023 - Key resistance on the test