GBPUSD Forex Analysis for Today, Thursday (19-10-2023)
GBPUSD Consolidation, Pay Attention to Support and Resistance Areas
GBPUSD Analysis – The strengthening of the US dollar is influencing the movement of GBPUSD, where GBPUSD is once again declining to test the support area of 1.21202 – 1.20949.
Today’s Trading Strategy:
There is an opportunity to SELL GBPUSD today if it breaks below the range of 1.21202 – 1.20949, with the potential to drop to the area of 1.20462 – 1.20310.
Alternatives:
A breakthrough of the resistance area of 1.21944 – 1.22273 could potentially push GBPUSD up to the area of 1.23253 – 1.23420.
Resistance Levels:
- R1 1.22753
- R2 1.23691
- R3 1.24114
Support Levels:
- S1 1.20949
- S2 1.20310
- S3 1.19954
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