NEWS: GBP/USD price increased 0.3% after the UK reported an annual increase of 3.2% in headline consumer prices, above 2.9% expected.
Possible Scenarios:
If GBP/USD fails to breach through R1 of 1.38411, our Research Department expects the GBP/USD to undergo a short-term downward correction.
If GBP/USD manages to break above its R1 of 1.38411, our Research Department expects the GBP/USD to extend its gains to its R2 of 1.38652.
Support and Resistance Levels:
GBP/USD |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
1.37287 |
1.37528 |
1.37769 |
1.38090 |
1.38411 |
1.38652 |
1.38893 |
Potential Profit or Potential Loss Calculations:
10 pips per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
(+/-) $100 |
(+/-) €84.62 |
(+/-) £72.18 |
*1 trading lot is equivalent of 100.000 units
**EUR/USD = 1.18181
***GBP/USD = 1.38542
Calculations for exchange rate used as of 8:46 (GMT+1) 15/09/2021