NEWS: GBP/USD price is falling -0.4%. The Pound is tumbling due to a stronger US Dollar, extended lockdowns in the UK due to rising case numbers of the Indian variant of the Coronavirus and worse than expected Retail Sales figures this morning.
Possible Scenarios:
If GBP/USD fails to breach through S2 of 1.38329, our Research Department expects the GBP/USD to undergo a short-term upward correction.
If GBP/USD manages to break below its S2 of 1.38329, our Research Department expects the GBP/USD to extend its losses to its S3 of 1.38027.
Support and Resistance Levels:
GBP/USD |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
1.38027 |
1.38329 |
1.38631 |
1.39033 |
1.39435 |
1.39737 |
1.40039 |
Potential Profit or Potential Loss Calculations:
10 pips per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
(+/-) $100 |
(+/-) €83.87 |
(+/-) £72.16 |
*1 trading lot is equivalent of 100.000 units
**EUR/USD = 1.19232
***GBP/USD = 1.38585
Calculations for exchange rate used as of 08:00 (GMT+1) 18/06/2021