GBPUSD Market Analysis for Today – Friday (17-11-2023)

GBPUSD Market Analysis for Today

Date: Friday, November 17, 2023

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GBPUSD Correction, Seeking Buy Confirmation

Analysis of GBPUSD – GBPUSD is undergoing a correction phase, with potential for further upward movement.

Today’s Trading Strategy:

Opportunity to BUY GBPUSD today as long as it doesn’t break below the range of 1.23032 – 1.23431, with potential upside towards the area of 1.24984 – 1.25112.

Alternatives:

A breach of the support area between 1.23032 – 1.23431 could push GBPUSD down towards the area of 1.21952 – 1.21804.

Resistance Levels:

R1: 1.25112
R2: 1.26412
R3: 1.27054

Support Levels:

S1: 1.23431
S2: 1.21804
S3: 1.20858