GBPUSD Forex Analysis for Today, Friday (13-10-2023)
GBPUSD Declines, Testing Support Area
Analysis of GBPUSD – The strengthening of the US dollar is affecting GBPUSD. GBPUSD is moving downwards, testing the support area.
Today’s Trading Strategy:
There is a potential opportunity to SELL GBPUSD today if it breaks below the range of 1.21735 – 1.21564, with the potential to decline towards the range of 1.21208 – 1.20952.
Alternative Scenario:
If the support area of 1.21735 – 1.21564 remains unbroken, it may potentially push GBPUSD to rise towards the range of 1.23258 – 1.23425.
Resistance Levels:
- R1: 1.23425
- R2: 1.24282
- R3: 1.24841
Support Levels:
- S1: 1.21564
- S2: 1.20952
- S3: 1.20315
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