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GBPUSD Potential for Further Upside
Analysis of GBPUSD – The weakening of the US dollar supports the upward movement of GBPUSD, with prices heading towards the resistance area.
Today’s Trading Strategy:
Opportunity to BUY GBPUSD as long as it doesn’t breach the lower area of 1.24697 – 1.24416, with the potential to rise towards the range of 1.25919 – 1.26412.
An Alternative scenario:
A breakthrough of the support area of 1.24697 – 1.24416 will pressure GBPUSD towards the range of 1.23824 – 1.23696.
Resistance
- R1 1.26412
- R2 1.27054
- R3 1.27554
Support
- S1 1.24416
- S2 1.23696
- S3 1.22785
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