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GBP USD Technical Analysis February 7, 2023

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GBP USD Technical Analysis February 7, 2023

The GBP declined 0.12% against the USD on Monday and closed at 1.2017. Today in the European session, while the GBP USD Technical Analysis February 7, 2023, is prepared at 5:00 GMT, the GBP/USD is trading at 1.1980, which is 0.30% lower than the USD from yesterday’s close.

The pair is expected to find support at 1.1975 and a fall-through could take it to the next support level of 1.1960 The pair is expected to find its first resistance at 1.2055 and a rise-through could take it to the next resistance level of 1.2075. Today’s expected trading range is between 1.1875 support and 1.2100 resistance.

The expected trend for today is Bearish

Important support levels:

Support 1: 1. 1975
Support 2: 1. 1960
Support 3: 1. 1875

Important resistance levels:

Resistance 1: 1.2055
Resistance 2: 1.2075
Resistance 3: 1.2100

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