GBPUSD Daily Forecast Aug 05 2020

Pound dollar 9868556 9

GBPUSD: Bullish Eyes Further Upside…

The GBPUSD remains on the upside as long as 1.2920 support holds on a daily closing basis. Resistance comes at1.3080 level. A halt is likely. But a break aims the 1.3190 levels. Next resistance comes in the 1.3333 level ahead of the 1.3500 level.

On the downside, support comes at 1.2920 levels. Below 1.2920 sees pullback threats to 1.2780 levels where another rising is very likely.

In conclusion: The GBPUSD sees upside threats above 1.2920 levels…

Support: 1.2920, 1.2780, 1.2665, 1.2515, 1.2400

Resistance: 1.3080, 1.3190, 1.3333, 1.3500, 1.3600

GBPUSD Daily Forecast Aug 05 2020

Key/data events which may affect GBPUSD today:

  • U.S ISM Non-Manufacturing PMI (Jul) at 14:00 GMT.