GBPUSD Forex Analysis for Today, Monday (23-10-2023)
GBPUSD Correction, Bearish Still Looming
GBPUSD Analysis – The correction of the US dollar is affecting GBPUSD. GBPUSD has the potential to move down towards the support area.
Today’s Trading Strategy:
There is an opportunity to SELL GBPUSD today as long as it does not break above the range of 1.21949 – 1.22278 with the potential target being the area of 1.21001 – 1.20851.
Alternative:
If there is a breakthrough above the resistance area of 1.21949 – 1.22278, it may potentially drive GBPUSD up to the range of 1.23258 – 1.23425.
Resistance Levels:
- R1 1.22278
- R2 1.23425
- R3 1.24282
Support Levels:
- S1 1.20851
- S2 1.20315
- S3 1.19854
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