Technical Analysis of GBPUSD on the 1-hour timeframe: 15/05/2023

deltawriter 15 May 2023

As observed in the technical analysis chart of the GBPUSD, it appears that a bearish trend scenario is more likely. Therefore, if these currency pair breaks the support level of 1.24394, the next price targets within a bearish trend would be 1.23702 and 1.21879. On the other hand, in a less anticipated scenario, it is possible that by surpassing the resistance level of 1.25496, the price could reach the level of 1.26767 in an upward trend.
Considering the impact of news and fundamental analysis on market performance, it is recommended to thoroughly examine all trading factors before entering any trade.

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