Bearish Continues to Accompany GBPUSD
Analysis of GBPUSD – The strengthening of the US dollar is affecting the movement of GBPUSD. GBPUSD has declined, testing the support area of 1.21600 – 1.21424.
Today’s Trading Strategy:
There is a potential opportunity to SELL GBPUSD today if it breaks below the range of 1.21600 – 1.21424, with the potential to decline towards the range of 1.20947 – 1.20562.
Alternatively, if the support range of 1.21600 – 1.21424 fails to be breached, it has the potential to push GBPUSD up towards the range of 1.22340 – 1.22592.
Resistance Levels:
- R1: 1.22592
- R2: 1.23408
- R3: 1.24277
Support Levels:
- S1: 1.21424
- S2: 1.20562
- S3: 1.20035
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