GBPUSD Forex Analysis for Today, Tuesday (19-12-2023)

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GBPUSD Correction Entering Fibonacci Zone

Analyzing GBPUSD – Pound weakness is impacting the movement of GBPUSD, currently undergoing correction entering the Fibonacci area. There’s a potential for a reversal upwards.

Today’s Trading Strategy:

• BUY in the Range of 1.26821 – 1.26127
• Targets: 1.27251 – 1.27945
• Alternatives:
• SELL STOP @1.26127
• Targets: 1.25632 – 1.25003

Resistance Levels

• R1: 1.26127
• R2: 1.25632
• R3: 1.25003

Support Levels

• S1: 1.26821
• S2: 1.26127
• S3: 1.27251
• S4: 1.27945

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