GBP USD Technical Analysis Aug 4, 2023
The GBP declined 0.03% against the USD on Thursday and closed at 1.2707. Today in the European session, while the GBP USD Technical Analysis Aug 4, 2023, is prepared at 5:00 GMT, the GBP/USD is trading at 1.2705, which is 0.01% lower than the USD from yesterday’s close.
The pair is expected to find support at 1.2685 and a fall-through could take it to the next support level of 1.2640 The pair is expected to find its first resistance at 1.2740 and a rise-through could take it to the next resistance level of 1.2800. Today’s expected trading range is between 1.2600 support and 1.2835 resistance.
The expected trend for today is Bearish
Important support levels:
Support 1: 1. 2685
Support 2: 1. 2640
Support 3: 1. 2600
Important resistance levels:
Resistance 1: 1.2740
Resistance 2: 1.2800
Resistance 3: 1.2835
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