GBPUSD Forex Analysis for Today, Friday (03-11-2023)
GBPUSD Rebound After Failing to Break Support
GBPUSD analysis – The weakening US dollar is affecting the movement of GBPUSD. GBPUSD is moving upwards towards the resistance area.
Today’s Trading Strategy:
There is an opportunity to BUY GBPUSD today as long as it does not break below the range of 1.21640 – 1.21435, with the potential to rise to the range of 1.22801 – 1.22916.
Alternative:
If there is a breakthrough below the support area of 1.21640 – 1.21435, it could potentially push GBPUSD down to the range of 1.21051 – 1.20858.
Resistance Levels:
- R1 1.22916
- R2 1.23425
- R3 1.24054
Support Levels:
- S1 1.21435
- S2 1.20858
- S3 1.20315
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