GBP/USD Outlook (24th July 2019)

• New British Prime Minister
  
• GBP/USD moving towards support level
  

Price Movement
Since yesterday, GBP/USD moved down by around 30pips.

Trend
GBP/USD is trending downwards.

Important Issue
Yesterday, Boris Johnson defeated Jeremy Hunt in the leadership contest, becoming the new Prime Minister of the UK.

Technical
GBP/USD is moving towards the support level of 1.24000.

Price Levels
Current Price: 1.24324
Next Resistance: 1.26000
Next Support: 1.24000