NEWS: The GBP/USD quote decreased 0.2%. Some investors see the deceleration in US inflation as a sign of receding demand and an economic slowdown, which supports the safe-haven dollar against other major currencies.
Possible Scenarios:
If GBP/USD fails to breach through S1 of 1.37999, our Research Department expects the GBP/USD to undergo a short-term upward correction.
If GBP/USD manages to break below its S1 of 1.37999, our Research Department expects the GBP/USD to extend its losses to its S2 of 1.3776.
Support and Resistance Levels:
GBP/USD |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
1.37521 |
1.37760 |
1.37999 |
1.38318 |
1.38637 |
1.38876 |
1.39115 |
Potential Profit or Potential Loss Calculations:
10 pips per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
(+/-) $100 |
(+/-) €84.6 |
(+/-) £72.31 |
*1 trading lot is equivalent of 100.000 units
**EUR/USD = 1.18210
***GBP/USD = 1.38300
Calculations for exchange rate used as of 7:40 (GMT+1) 16/09/2021