GBPUSD Heading Towards Support, Potential Further Decline

GBPUSD Analysis – The strengthening of the US dollar is influencing GBPUSD. GBPUSD is decreasing towards the support area.

Today’s Trading Strategy:

There is a potential to SELL GBPUSD today if it breaks below the 1.21946 – 1.21798 area, with the possibility of a decline to the 1.21046 – 1.20853 area.

Alternative:

If the support area of 1.21946 – 1.21798 fails to break, it could potentially push GBPUSD up to the 1.23005 – 1.23100 area.

Resistance

• R1 1.23100
• R2 1.24326
• R3 1.24474

Support

• S1 1.21798
• S2 1.20853
• S3 1.20653