NEWS: GBP/USD price increased 0.5%. The British Pound is rising after Bank of England Governor Bailey was quoted calling negative rates “Controversial”.
Possible Scenarios:
If GBP/USD fails to breach through R2 of 1.36145, our Research Department expects the GBP/USD to undergo a short-term downward correction.
If GBP/USD manages to break above its R2 of 1.36145, our Research Department expects the GBP/USD to extend its gains to its R3 of 1.36448.
Support and Resistance Levels:
GBP/USD |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
1.34428 |
1.34731 |
1.35034 |
1.35438 |
1.35842 |
1.36145 |
1.36448 |
Potential Profit or Potential Loss Calculations:
10 pips per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
(+/-) $100 |
(+/-) €82.28 |
(+/-) £73.58 |
*1 trading lot is equivalent of 100.000 units
**EUR/USD = 1.21535
***GBP/USD = 1.35915
Calculations for exchange rate used as of 10:34 (GMT) 12/01/2021