GBP USD Technical Analysis May 8, 2023
The GBP rose 0.46% against the USD on Friday and closed at 1.2631. Today in the European session, while the GBP USD Technical Analysis May 8, 2023, is prepared at 5:00 GMT, the GBP/USD is trading at 1.2647, which is 0.13% higher than the USD from yesterday’s close.
The pair is expected to find support at 1.2615 and a fall-through could take it to the next support level of 1.2665 The pair is expected to find its first resistance at 1.2665 and a rise-through could take it to the next resistance level of 1.2700. Today’s expected trading range is between 1.2650 support and 1.2750 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 1. 2615
Support 2: 1. 2665
Support 3: 1. 2650
Important resistance levels:
Resistance 1: 1.2665
Resistance 2: 1.2700
Resistance 3: 1.2750
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