GBPUSD Declines, Watch for Support Breakthrough
GBPUSD Analysis – The weakening of the British pound is pressing down on GBPUSD. From the H1 timeframe chart, GBPUSD attempts to break through support. If broken, there’s potential for further downside in GBPUSD.
Today’s Trading Strategy:
- BUY in the Range of 1.26300 – 1.26100
- Target: 1.26800 – 1.27000
- Alternative:
- SELL STOP @1.26100
- Target: 1.25500 – 1.25600
Resistance Levels
- R1 1.26100
- R2 1.25500
- R3 1.25600
Support Levels
- S1 1.26300
- S2 1.26100
- S3 1.26800
- S4 1.27000
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