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GBP USD Technical Analysis October 6, 2023

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GBP USD Technical Analysis October 6, 2023

The GBP rose 0.44% against the USD on Thursday and closed at 1.2191. Today in the European session, while the GBP USD Technical Analysis October 6, 2023, is prepared at 5:00 GMT, the GBP/USD is trading at 1.2180, which is 0.10% lower than the USD from yesterday’s close.

The pair is expected to find support at 1.2160 and a fall-through could take it to the next support level of 1.2110 The pair is expected to find its first resistance at 1.2195 and a rise-through could take it to the next resistance level of 1.2215. Today’s expected trading range is between 1.2050 support and 1.2270 resistance.

The expected trend for today is Bullish

Important support levels:

Support 1: 1. 2160
Support 2: 1. 2110
Support 3: 1. 2050

Important resistance levels:

Resistance 1: 1.2195
Resistance 2: 1.2215
Resistance 3: 1.2270

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