NEWS: GBP/USD price is falling -0.3%. The Pound tumbled lower on Tuesday after the UK confirmed it would be extending economic restrictions to fight the pandemic an additional 4 weeks.
Possible Scenarios:
If GBP/USD fails to breach through S2 of 1.40609, our Research Department expects the GBP/USD to undergo a short-term upward correction.
If GBP/USD manages to break below its S2 of 1.40609, our Research Department expects the GBP/USD to extend its losses to its S3 of 1.40374.
Support and Resistance Levels:
GBP/USD |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
1.40374 |
1.40609 |
1.40844 |
1.41158 |
1.41472 |
1.41707 |
1.41942 |
Potential Profit or Potential Loss Calculations:
10 pips per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
(+/-) $100 |
(+/-) €82.46 |
(+/-) £71.02 |
*1 trading lot is equivalent of 100.000 units
**EUR/USD = 1.21265
***GBP/USD = 1.40803
Calculations for exchange rate used as of 11:19 (GMT+1) 15/06/2021