GBPUSD Forex Analysis for Today, Monday (20-11-2023)
GBPUSD Held at Support, Ready to Soar Again
Assessing GBPUSD – GBPUSD is experiencing a consolidation phase, with potential for further upward movement.
Today’s Trading Strategy:
Opportunity to BUY GBPUSD as long as it doesn’t break below the range of 1.23824 – 1.23696, with potential gains towards the range of 1.24984 – 1.25112.
Alternative scenario: A breach of the support area of 1.23824 – 1.23696 could push GBPUSD down towards the range of 1.23161 – 1.22785.
Resistance Levels
- R1 1.25112
- R2 1.26412
- R3 1.27054
Support Levels
- S1 1.23696
- S2 1.22785
- S3 1.21804
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