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
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