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GBP USD Technical Analysis June 5, 2023

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GBP USD Technical Analysis June 5, 2023

The GBP declined 0.61% against the USD on Friday and closed at 1.2450. Today in the European session, while the GBP USD Technical Analysis June 5, 2023, is prepared at 5:00 GMT, the GBP/USD is trading at 1.2385, which is 0.53% lower than the USD from yesterday’s close.

The pair is expected to find support at 1.2350 and a fall-through could take it to the next support level of 1.2325 The pair is expected to find its first resistance at 1.2425 and a rise-through could take it to the next resistance level of 1.2475. Today’s expected trading range is between 1.2310 support and 1.2540 resistance.

The expected trend for today is Bearish

Important support levels:

Support 1: 1. 2350
Support 2: 1. 2225
Support 3: 1. 2310

Important resistance levels:

Resistance 1: 1.2425
Resistance 2: 1.2475
Resistance 3: 1.2540

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