GBPUSD Forex Analysis for Today, Tuesday (07-11-2023)
GBPUSD Correction, Bullish Sentiment Still Looming
GBPUSD analysis: The strengthening of the US dollar has an impact on GBPUSD. GBPUSD has corrected downward, heading towards the support area.
Today’s Trading Strategy:
There is a potential opportunity to BUY GBPUSD today as long as it doesn’t break below the range of 1.22243 – 1.21848, with the potential to rise towards the range of 1.24142 – 1.24326.
Alternative Scenario:
If the support area of 1.22243 – 1.21848 is breached, it may push GBPUSD down to the range of 1.21046 – 1.20853.
Resistance Levels
- R1: 1.24326
- R2: 1.25177
- R3: 1.25512
Support Levels
- S1: 1.21848
- S2: 1.20853
- S3: 1.20310
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