NEWS: GBP/USD price increased 0.6%. The British Pound and most major currencies are gaining against the US Dollar this afternoon after the ISM Manufacturing PMI for December in the United STates came in at 58.7, below the consensus forecast of 60.0.
Possible Scenarios:
If GBP/USD fails to breach through R2 of 1.35492, our Research Department expects the GBP/USD to undergo a short-term downward correction.
If GBP/USD manages to break above its R2 of 1.35492, our Research Department expects the GBP/USD to extend its gains to its R3 of 1.35726.
Support and Resistance Levels:
GBP/USD |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
1.34170 |
1.34404 |
1.34637 |
1.34948 |
1.35259 |
1.35492 |
1.35726 |
Potential Profit or Potential Loss Calculations:
10 pips per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
(+/-) $100 |
(+/-) €88.38 |
(+/-) £73.81 |
*1 trading lot is equivalent of 100.000 units
**EUR/USD = 1.13154
***GBP/USD = 1.35477
Calculations for exchange rate used as of 15:32 (GMT) 04/1/2022