GBPUSD Rebounds, Watch the Resistance Area
Analysis of GBPUSD – GBPUSD experiences a correction after a strong bearish pressure. GBPUSD rebounds towards the resistance area of 1.22163 – 1.22509.
Today’s Trading Strategy:
There is a potential SELL opportunity for GBPUSD today as long as it does not break above the 1.22163 – 1.22509 area, with the potential to decline towards the 1.21248 – 1.21038 area.
Alternative Scenario:
A breakthrough above the resistance area of 1.22163 – 1.22509 has the potential to push GBPUSD up towards the 1.23062 – 1.23328 area.
Resistance Levels:
- R1: 1.22509
- R2: 1.23328
- R3: 1.23862
Support Levels:
- S1: 1.21038
- S2: 1.20054
- S3: 1.19777
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