GBPUSD Forex Analysis for Today, Thursday (05-10-2023)
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GBPUSD Rebound, Look for Selling Opportunities
Analysis of GBPUSD – Favorable data from the United Kingdom is influencing the GBPUSD movement. GBPUSD is correcting upwards towards the resistance area of 1.22111 – 1.22224.
Today’s Trading Strategy:
There is an opportunity to Sell GBPUSD today as long as it doesn’t break above the 1.22111 – 1.22224 area, with the potential to decline towards the 1.20011 – 1.19688 range.
Alternatively, a breakthrough above the resistance area of 1.22111 – 1.22224 could potentially push GBPUSD up to the 1.22607 – 1.22753 range.
Resistance Levels:
- R1 1.22224
- R2 1.22753
- R3 1.23244
Support Levels:
- S1 1.19688
- S2 1.19247
- S3 1.18888
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