GBPUSD Forex Analysis for Today, Wednesday (25-10-2023)
Bearish Pressure Shadows GBPUSD, Testing Support
GBPUSD Analysis – The strength of the US dollar is influencing the movement of GBPUSD, as GBPUSD is once again declining, testing the support area of 1.21478 – 1.21383.
Today’s Trading Strategy:
There is a potential to SELL GBPUSD today if it breaks below the 1.21478 – 1.21383 area, with the potential to decline to the 1.21001 – 1.20851 area.
Alternative:
If the support area 1.21478 – 1.21383 fails to be breached, it could potentially push GBPUSD up to the 1.23258 – 1.23425 area.
Resistance
- R1 1.23425
- R2 1.24114
- R3 1.24655
Support
- S1 1.21383
- S2 1.20851
- S3 1.20315
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