GBP USD Technical Analysis May 1, 2023
The GBP rose 0.56% against the USD on Friday and closed at 1.2567. Today in the European session, while the GBP USD Technical Analysis May 1, 2023, is prepared at 5:00 GMT, the GBP/USD is trading at 1.2530, which is 0.30% lower than the USD from yesterday’s close.
The pair is expected to find support at 1.2505 and a fall-through could take it to the next support level of 1.2480 The pair is expected to find its first resistance at 1.2580 and a rise-through could take it to the next resistance level of 1.2620. Today’s expected trading range is between 1.2445 support and 1.2650 resistance.
The expected trend for today is Bearish
Important support levels:
Support 1: 1. 2505
Support 2: 1. 2480
Support 3: 1. 2445
Important resistance levels:
Resistance 1: 1.2580
Resistance 2: 1.2620
Resistance 3: 1.2650
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