GBPUSD Forex Analysis for Today, Wednesday(18-10-2023)
GBPUSD Attempting to Break Resistance Area
GBPUSD Analysis – The weakening of the US dollar has an impact on GBPUSD. GBPUSD is moving upward, testing the resistance area.
Today’s Trading Strategy:
There is an opportunity to BUY GBPUSD today if it breaks above the range of 1.22142 – 1.22278, with the potential to rise to the range of 1.23258 – 1.23425.
Alternative:
A breakthrough of the support area of 1.21208 – 1.20952 has the potential to push GBPUSD down to the range of 1.20467 – 1.20315.
Resistance Levels:
- R1: 1.22278
- R2: 1.23425
- R3: 1.24282
Support Levels:
- S1: 1.20952
- S2: 1.20315
- S3: 1.19857