GBPUSD Daily Analysis – July 27, 2023

GBPUSD has recently extended its upward trend, rising from 1.2797 to as high as 1.2976 and breaking above the 1.2883 resistance level. This could lead to further rise in the coming days, with the next target being the previous high of 1.3141.

On the other hand, there is now immediate support at 1.2900. If the price were to break down below this level, it could bring the price back towards 1.2797.

Overall, while GBPUSD has broken above a key resistance level and could see further upside movement, there is also support that could prevent further decline.