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GBP USD Technical Analysis May 9, 2023

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GBP USD Technical Analysis May 9, 2023

The GBP declined 0.09% against the USD on Monday and closed at 1.2619. Today in the European session, while the GBP USD Technical Analysis May 9, 2023, is prepared at 5:00 GMT, the GBP/USD is trading at 1.2591, which is 0.21% lower than the USD from yesterday’s close.

The pair is expected to find support at 1.2560 and a fall-through could take it to the next support level of 1.2550 The pair is expected to find its first resistance at 1.2635 and a rise-through could take it to the next resistance level of 1.2665. Today’s expected trading range is between 1.2530 support and 1.2700 resistance.

The expected trend for today is Bearish

Important support levels:

Support 1: 1. 2560
Support 2: 1. 2550
Support 3: 1. 2530

Important resistance levels:

Resistance 1: 1.2635
Resistance 2: 1.2665
Resistance 3: 1.2700

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