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GBP USD Technical Analysis Aug 7, 2023

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GBP USD Technical Analysis Aug 7, 2023

The GBP rose 0.37% against the USD on Friday and closed at 1.2748. Today in the European session, while the GBP USD Technical Analysis Aug 7, 2023, is prepared at 5:00 GMT, the GBP/USD is trading at 1.2729, which is 0.16% lower than the USD from yesterday’s close.

The pair is expected to find support at 1.2715 and a fall-through could take it to the next support level of 1.2690 The pair is expected to find its first resistance at 1.2790 and a rise-through could take it to the next resistance level of 1.2800. Today’s expected trading range is between 1.2625 support and 1.2835 resistance.

The expected trend for today is Bullish

Important support levels:

Support 1: 1. 2715
Support 2: 1. 2690
Support 3: 1. 2625

Important resistance levels:

Resistance 1: 1.2790
Resistance 2: 1.2800
Resistance 3: 1.2835

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