GBPUSD Forex Analysis for Today, Wednesday (25-10-2023)
GBPUSD Decreasing, Testing Support Area
GBPUSD Analysis – The strengthening of the US dollar is impacting the GBPUSD movement. GBPUSD has once again decreased, testing the support area between 1.21001 and 1.20851.
Today’s Trading Strategy:
There is an opportunity to SELL GBPUSD today if it breaks below the range of 1.21001 to 1.20851, with the potential to decrease to the area between 1.20467 and 1.20315.
Alternative:
If the support area between 1.21001 and 1.20851 is not breached, it could potentially push GBPUSD up to the range of 1.22142 to 1.22554.
Resistance Levels
- R1: 1.22554
- R2: 1.22916
- R3: 1.23425
Support Levels
- S1: 1.20851
- S2: 1.20315
- S3: 1.19952
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