GBPUSD Forex Analysis for Today – Thursday, November 9, 2023

GBPUSD Forex Analysis for Today – Thursday, November 9, 2023

GBPUSD Forex Analysis for Today

GBPUSD Potential Downside, Testing Support Area

GBPUSD Analysis – The strengthening of the US dollar is affecting GBPUSD, causing GBPUSD to decline towards the support area.

Today’s Trading Strategy:

There is a selling opportunity for GBPUSD today as long as it doesn’t break above the range of 1.23302 – 1.23448, with the potential to fall towards the range of 1.22638 – 1.22487.

Alternatives:

If the resistance area of 1.23302 – 1.23448 is breached, it may push GBPUSD up to the range of 1.24142 – 1.24326.

Resistance

  • R1: 1.23448
  • R2: 1.24326
  • R3: 1.24857

Support

  • S1: 1.22487
  • S2: 1.21557
  • S3: 1.20310
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