GBPUSD Forex Analysis for Today, Wednesday (25-10-2023)

GBPUSD Forex Analysis for Today, Wednesday (25-10-2023)

GBPUSD Forex Analysis for Today, Wednesday (25-10-2023)

Bearish Pressure Shadows GBPUSD, Testing Support

GBPUSD Analysis – The strength of the US dollar is influencing the movement of GBPUSD, as GBPUSD is once again declining, testing the support area of 1.21478 – 1.21383.

Today’s Trading Strategy:

There is a potential to SELL GBPUSD today if it breaks below the 1.21478 – 1.21383 area, with the potential to decline to the 1.21001 – 1.20851 area.

Alternative:

If the support area 1.21478 – 1.21383 fails to be breached, it could potentially push GBPUSD up to the 1.23258 – 1.23425 area.

Resistance

  • R1 1.23425
  • R2 1.24114
  • R3 1.24655

Support

  • S1 1.21383
  • S2 1.20851
  • S3 1.20315
JustMarkets  forex analysis | gbpjpy forecast | eur chf forecast | gbp usd forecast | best forex prediction site | top down analysis forex | gbp usd forecast | xau usd forecast

Leave a Reply

Your email address will not be published. Required fields are marked *