GBPUSD Forex Analysis for Today, Thursday (26-10-2023)

GBPUSD Forex Analysis for Today, Thursday (26-10-2023)

GBPUSD Forex Analysis for Today, Thursday (26-10-2023)

GBPUSD Declining, Testing Support Zone

GBPUSD Analysis – The strengthening of the US dollar is impacting the movement of GBPUSD. GBPUSD has once again dropped, testing the support area between 1.21001 and 1.20851.

Today’s Trading Strategy:

There is an opportunity to SELL GBPUSD today if it breaks below the range of 1.21001 to 1.20851, with the potential to decline to the area between 1.20467 and 1.20315.

Alternative:

If the support area of 1.21001 to 1.20851 remains unbreached, it could potentially drive GBPUSD up to the area of 1.22142 to 1.22554.

Resistance Levels

  • R1: 1.22554
  • R2: 1.22916
  • R3: 1.23425

Support Levels

  • S1: 1.20851
  • S2: 1.20315
  • S3: 1.19952
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