GBPUSD Forex Analysis for Today – Wednesday (04-10-2023)
GBPUSD Bearish Bias, Attempt to Break Support Area
Analysis of GBPUSD – The strengthening of the US dollar has an impact on the movement of GBPUSD. GBPUSD has once again fallen towards the support area at 1.20710 – 1.20475.
Today’s Trading Strategy:
There is a potential to SELL GBPUSD today if it breaks below the 1.20710 – 1.20475 area, with the potential for a decline to the 1.20011 – 1.19688 area.
Alternatives:
If the support area at 1.20710 – 1.20475 has the potential to push GBPUSD up to the 1.21449 – 1.21643 area.
Resistance Levels
- R1: 1.21643
- R2: 1.22224
- R3: 1.22753
Support Levels
- S1: 1.20475
- S2: 1.19688
- S3: 1.19247
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