NEWS: The UK pound continued to fall against the US dollar as investors favored the US currency as safer amid expectations for a global economic recession.
Possible Scenarios:
If GBP/USD fails to break below Support 2 of 1.20101, our Research Department expects GBP/USD to undergo a short- term upward correction.
If GBP/USD manages to break below Support 2 of 1.20101, our Research Department expects GBP/USD to extend its losses to its Support 3 of 1.19804.
Support and Resistance Levels:
GBP/USD |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
1.19804 |
1.20101 |
1.20397 |
1.20792 |
1.21187 |
1.21483 |
1.21780 |
Potential Profit or Potential Loss Calculations:
10 pips 1 trading lot* |
USD |
EUR** |
GBP*** |
(+/-)100$ |
(+/-)96.00€ |
(+/-)83.27£ |
* 1 trading lot is equivalent of 100000 units
** EUR/USD = 1.04147
***GBP/USD= 1.20086
Calculations for exchange rate used as of 13:53 (GMT+1) 01/07/2022