GBP USD Technical Analysis Aug 8, 2023
The GBP rose 0.32% against the USD on Monday and closed at 1.2783. Today in the European session, while the GBP USD Technical Analysis Aug 8, 2023, is prepared at 5:00 GMT, the GBP/USD is trading at 1.2735, which is 0.37% lower than the USD from yesterday’s close.
The pair is expected to find support at 1.2735 and a fall-through could take it to the next support level of 1.2715 The pair is expected to find its first resistance at 1.2785 and a rise-through could take it to the next resistance level of 1.2835. Today’s expected trading range is between 1.2685 support and 1.2835 resistance.
The expected trend for today is Bearish
Important support levels:
Support 1: 1. 2735
Support 2: 1. 2715
Support 3: 1. 2685
Important resistance levels:
Resistance 1: 1.2785
Resistance 2: 1.2835
Resistance 3: 1.2870
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