NEWS: GBP/USD price is falling -0.5%. The Pound is tumbling due to a stronger US Dollar and extended lockdowns in the UK due to rising case numbers of the Indian variant of the Coronavirus.
Possible Scenarios:
If GBP/USD fails to breach through S2 of 1.39335, our Research Department expects the GBP/USD to undergo a short-term upward correction.
If GBP/USD manages to break below its S2 of 1.39335, our Research Department expects the GBP/USD to extend its losses to its S3 of 1.39038.
Support and Resistance Levels:
GBP/USD |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
1.39038 |
1.39335 |
1.39632 |
1.40028 |
1.40424 |
1.40721 |
1.41018 |
Potential Profit or Potential Loss Calculations:
10 pips per 1 trading lot* |
USD |
EUR** |
GBP*** |
(+/-) $100 |
(+/-) €83.81 |
(+/-) £71.75 |
*1 trading lot is equivalent of 100.000 units
**EUR/USD = 1.19318
***GBP/USD = 1.39382
Calculations for exchange rate used as of 11:29 (GMT+1) 17/06/2021