gbpusd technical analysis Monday 3 Jul 2023

GBPUSD Technical Analysis; 03-07-2023

deltawriter 3 July 2023

As seen in the image, the level of 1.2700 (23.6% Fibonacci retracement level with a 50-period simple moving average and a 100-period simple moving average) has been established as a key resistance level for the GBPUSD currency pair. A daily candle closing above this level can attract buyers and push this currency pair towards 1.2750 (a fixed level) and 1.2800 (a psychological level)

On the other hand, a temporary support level is located at 1.2650 (20-period simple moving average), which is above the levels of 1.2600 and 1.2570 (50% Fibonacci retracement level).

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