FX.co ★ GBP/USD analysis for September 01, 2023 - Key support zone on the test

Technical analysis:

GBP/USD has been trading downside this morning and I found test of the key support at the price of 1.2650. There is potential for the rejection of the support.

Due to the short-term upside swing in last few days and the test of the support, I see potential for the potential upside rotation.

Upside objectives are set at the price of 1.2680 and 1.2710

MACD oscillator is showing potential bullish divergence, which is good sign for the further rally.

Support is set at the price of 1.2650