GBPUSD Forex Analysis for Today, Tuesday (31-10-2023)
GBPUSD Held at Resistance, Caution If It Breaks Through
Analysis of GBPUSD – The correction of the US dollar has influenced the movement of GBPUSD. GBPUSD is correcting higher but is held at a resistance area.
Today’s Trading Strategy:
There’s an opportunity to SELL GBPUSD today as long as it doesn’t break above the range of 1.21636 – 1.21812, with the potential to decline to the range of 1.20743 – 1.20653.
Alternatives:
A breakthrough of the resistance area at 1.21636 – 1.21812 has the potential to push GBPUSD up to the range of 1.22796 – 1.22911.
Resistance Levels:
- R1 1.21812
- R2 1.22911
- R3 1.23425
Support Levels:
- S1 1.20653
- S2 1.20315
- S3 1.19444
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