GBPUSD Technical Analysis – June 7, 2021

GBPUSD rose on Friday, The technical bias is bullish due to higher highs after rising.

The pair is currently trading near 1.41680, and multiple resistance levels can be seen above which may prevent the price from rising.

  • Resistance level 1: 1.41850
  • Resistance level 2: 1.42200
  • Resistance level 3: 1.42500

Below the price, multiple support levels can be seen which may prevent the price from falling.

  • Support level 1: 1.41550
  • Support level 2: 1.41300
  • Support level 3: 1.41000

The United States will announce the final seasonal adjustment data for the CPI annual rate in May this Thursday. Higher data will be favorable for the US dollar, so it is negative for the GBPUSD currency pair, and vice versa.

Looking at the current price trend and economic development, it may be a good trading choice to buy the GBPUSD current pair near the current level.