GBPUSD Bearish Bias, Watch for Resistance Breakout
GBPUSD Analysis – The strengthening of the US dollar is impacting the movement of GBPUSD. GBPUSD is once again heading downwards towards the support area of 1.20467 – 1.20315.
Today’s Trading Strategy:
There is a selling opportunity for GBPUSD today as long as it doesn’t break above the 1.21636 – 1.21812 area, with the potential to drop to the 1.20467 – 1.20315 area.
Alternative:
If there is a breakthrough above the resistance area of 1.21636 – 1.21812, it has the potential to push GBPUSD up to the 1.22801 – 1.22916 area.
Resistance Levels:
- R1: 1.21812
- R2: 1.22916
- R3: 1.23425
Support Levels:
- S1: 1.20658
- S2: 1.20315
- S3: 1.19444
forex analysis | gbpjpy forecast | eur chf forecast | gbp usd forecast | best forex prediction site | top down analysis forex | gbp usd forecast | xau usd forecast