Fri, Jun 02, 2023 @ 14:47 GMT
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Daily Technical Analysis


Current level – 1.1334

During the early hours of today`s trading, the bulls eased off their pressure just below the resistance at 1.1366. If the bears prevail, we may witness a corrective move towards the support at 1.1300. If the support in question fails to withstand the bearish pressure, the sell-off should deepen towards the next support at 1.1260. In an alternative scenario, in which the bulls overcome the critical resistance at 1.1366, the rally should resume and the pair will most likely target the resistance at 1.1460. A spike in volatility is likely during the announcement of the economic data for the initial jobless claims for the U.S. (today; 13:30 GMT).

Resistance Support
intraday intraweek intraday intraweek
1.1366 1.1460 1.1307 1.1205
1.1460 1.1500 1.1259 1.1180


Current level – 113.75

The currency pair tested the resistance at 113.80, but could not stay above this level. At the time of writing this analysis, the USD/JPY is trying to violate the mentioned level, but only a confirmed breach here would pave the way for the pair towards the next important resistance at 114.50. However, if the bears manage to resist the bullish pressure, then the most likely scenario would be for a move towards the support at 113.00.

Resistance Support
intraday intraweek intraday intraweek
113.80 114.90 113.04 112.75
114.50 115.37 112.75 110.80


Current level – 1.3196

The support zone at 1.3200 managed to deflect the bearish attack a couple of times and the expectations for today’s trading session are for the bulls to try to take control and lead the pair towards a test of the resistance at 1.3300. On the other hand, if the mentioned support is successfully breached, this would lead to new losses for the GBP/USD and would strengthen the negative expectations of the market participants. Better-than-expected data on the initial jobless claims for the U.S., which will be published today at 13:30 GMT, may allow the bears to overcome this critical resistance.

Resistance Support
intraday intraweek intraday intraweek
1.3296 1.3440 1.3206 1.3150
1.3360 1.3500 1.3206 1.3060

DeltaStock Inc.
DeltaStock Inc.
These analyses are for information purposes only. They DO NOT post a BUY or SELL recommendation for any of the financial instruments herein analyzed. The information is obtained from generally accessible data sources. The forecasts made are based on technical analysis. However, Delta Stock’s Analyst Dept. also takes into consideration a number of fundamental and macroeconomic factors, which we believe impact the price moves of the observed instruments. Delta Stock Inc. assumes no responsibility for errors, inaccuracies or omissions in these materials, nor shall it be liable for damages arising out of any person's reliance upon the information on this page. Delta Stock Inc. shall not be liable for any special, indirect, incidental, or consequential damages, including without limitation, losses or unrealized gains that may result. Any information is subject to change without notice.

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