GBP/USD – 05.08.2024

GBP/USD – 05.08.2024

GBPUSD still facing downtrend pressure with prices moving toward the 1.2450 target.

As we see on the Intraday chart, the market is facing resistance around 1.2840-70. If prices remain below it, then a drop could sustain toward 1.2450.

Above 1.2870 prices could start to show strength and signal for more advance with resistances at 1.3050-70 and 1.3140.

SUPPORT RESISTANCE
LEVEL1 1.2705 1.2840-70
LEVEL2 1.2610 1.3050-70
LEVEL3 1.2450 1.3140

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