Daily Technical Analysis Of GBPUSD – Monday, Feb. 6

By AAATrade of AAATrade.com

Feb 6, 2023 at 11:04 AM EST

Looking at GBPUSD’s chart, we can see that the FX pair has dropped to the current rate of around $1.2063 after Friday’s announcement of the unemployment rate and the non-farm payrolls.

Photo by Colin Watts on Unsplash

Spotlight on GBPUSD. The latest daily technical analysis by AAATrade reveals the key support and resistance levels that each of these assets is likely to reach today. Look at the charts and our market analysts’ observations below and gain a fresh perspective on trading.

GBPUSD

Looking at GBPUSD’s chart, we can see that the FX pair has dropped to the current rate of around $1.2063 after Friday’s announcement of the unemployment rate and the non-farm payrolls, which signal more rate hikes to come. If it holds above its support level today, which is located at around $1.2020, then today we could expect it to climb toward its resistance level at around $1.2150.

The announcement of the UK’s construction PMI will support the direction for today’s trading.

(Click on image to enlarge)

AAATrade's Daily Technical Analysis of GBPUSD – 06/02/2023

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