NEWS: GBPUSD price increased 0.1%. The GBPUSD and all other US pairs rose, as the US dollar continued to decline after last week’s dovish federal reserve conference.
Possible Scenarios:
If GBPUSD fails to breach through R1 of 1.26070, our Research Department expects the GBPUSD to undergo a short- term downward correction.
If GBPUSD manages to break above its R1 of 1.26070, our Research Department expects the GBPUSD to extend its gains to its R2 of 1.26308.
Support and Resistance Levels:
GBPUSD |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
1.24958 |
1.25196 |
1.25434 |
1.25752 |
1.26070 |
1.26308 |
1.26546 |
Potential Profit or Potential Loss Calculations:
10 pips per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
(+/-) $100 |
(+/-) €92.7 |
(+/-) £79.42 |
*1 trading lot is equivalent of 100.000 units
**EUR/USD = 1.07879
***GBP/USD = 1.25910
Calculations for exchange rate used as of Monday, May 6, 2024, GMT+1 14:47h