Consistently Sideways! Opportunity to Bounce GBPUSD
Daily Analysis of GBPUSD
USD Strengthens by 0.2% Overnight
The US Dollar rose on Thursday after data showed faster-than-expected economic growth. The dollar index, measuring the dollar’s value against six other major currencies, strengthened by 0.2% overnight.
Consolidated Prices
The Dollar’s strength has led to a decline in the GBPUSD chart. Prices have been observed to turn downwards into the ranging area. Opportunities to SELL again can be maximized.
Conclusion: WEAK GBPUSD
Trade Plan:
Resistance
- R1: 1.27925
- R2: 1.27600
- R3: 1.28260
- R4: 1.28425
Support
- S1: 1.27250
- S2: 1.27925
- S3: 1.26555
- S4: 1.26280
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