NEWS: GBP/USD price decreased 0.2%. The 10-year US government bond yields are again trading above 1.7%. Yesterday, the US Services PMI showed an even better image of the US economy, while the post-Brexit British economy still remains partially closed at least until April 12.
Possible Scenarios:
If GBP/USD fails to breach through S2 of 1.38537, our Research Department expects the GBP/USD to undergo a short-term upward correction.
If GBP/USD manages to break below its S2 of 1.38537, our Research Department expects the GBP/USD to extend its losses to its S3 of 1.38292.
Support and Resistance Levels:
GBP/USD |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
1.38292 |
1.38536 |
1.38780 |
1.39106 |
1.39432 |
1.39676 |
1.39920 |
Potential Profit or Potential Loss Calculations:
10 pips per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
(+/-) $100 |
(+/-) €85.05 |
(+/-) £72.14 |
*1 trading lot is equivalent of 100.000 units
**EUR/USD = 1.17578
***GBP/USD = 1.38628
Calculations for exchange rate used as of 09:00 AM (GMT+1) 6/4/2021