GBPUSD Forex Analysis for Today
Bullish Tone Accompanies GBPUSD, Watch for Resistance
Analysis of GBPUSD – The weakening of the US dollar is affecting the movement of GBPUSD. GBPUSD is once again rising, testing the resistance zone of 1.22478 – 1.22753.
Today’s Trading Strategy: There is a buying opportunity for GBPUSD today if it breaks above the area of 1.22478 – 1.22753, with the potential to rise to the area of 1.23340 – 1.23691.
Alternative: If the resistance zone of 1.22478 – 1.22753 fails to be breached, it could potentially push GBPUSD down to the area of 1.21202 – 1.20949.
Resistance Levels:
- R1: 1.22753
- R2: 1.23691
- R3: 1.24114
Support Levels:
- S1: 1.20949
- S2: 1.20310
- S3: 1.19954
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