GBPUSD Forex Analysis for Today, Friday (08-12-2023)

GBPUSD Correction, Bullish Sentiment Still Prevails

Analysis of GBPUSD – Weakness in the US dollar supports the movement of GBPUSD. The current price is corrected and has the potential to rise again.

Today’s Trading Strategy:

• BUY in the Range of 1.25857 – 1.25696
• Target: 1.25957 – 1.26119
• Alternative:
• SELL STOP @1.25696
• Target: 1.25581 – 1.25435

Resistance Levels

• R1 1.25696
• R2 1.25581
• R3 1.25435

Support Levels

• S1 1.25857
• S2 1.25696
• S3 1.25957
• S4 1.26119

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