FX.co ★ GBP/USD analysis for June 02, 2023 - Strong upside momentum

Technical analysis:

GBP/USD has been trading upside as I expected. The momentum is still strong to the upside and there is the chance for the higher prices towards upside reference.

Due to the mid-long term upside trend and the short-term upside momentum, I see potential for the further growth towards the upside reference.

Upisde objective is set at the price of 1.2670

MACD oscillator is showing bull reading, which is good sign for the upside continuation.

Key support is set at the price of 1.2310