GBPUSD analsysis for May 02 , 2023 – Rejection of the key support
May 2, 2023 7:25 am
Technical analysis:
GBP/USD has been downside on Friday but I found the strong rejection of the rising support at the price of 1.2480, which is good sign for the further rally.
Due to rejection of the key rising support and the upside cycle on longer time-frames, I see potential for the further rise.
Upside objectives are set at the price of 1.2520 and 1.2555
There is the re-test of the resistance area in the background, which now became key support.
Key support is set at the price of1.2480
The material has been provided by InstaForex Company – www.instaforex.com
Technical
analysis:
GBP/USD
has been downside
on Friday but I found the strong rejection of the rising support at
the price of 1.2480, which is good sign for the further rally.
Due
to rejection of the key rising support and the upside cycle on longer
time-frames, I see potential for the further rise.
Upside
objectives are set at the price of 1.2520 and 1.2555
There
is the re-test of the resistance area in the background, which now
became key support.
Key
support is set at the price of1.2480
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: