NEWS: GBPUSD price increased 0.3%. The GBPUSD and all other USD pairs increased as US PPI came in lower than expected, causing the USD index to fall.
Possible Scenarios:
If GBPUSD fails to breach through R2 of 1.25896, our Research Department expects the GBPUSD to undergo a short- term downward correction.
If GBPUSD manages to break above its R2 of 1.25896, our Research Department expects the GBPUSD to extend its gains to its R3 of 1.26149.
Support and Resistance Levels:
GBPUSD |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
1.24463 |
1.24716 |
1.24969 |
1.25306 |
1.25643 |
1.25896 |
1.26149 |
Potential Profit or Potential Loss Calculations:
10 pips per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
(+/-) $100 |
(+/-) €93.07 |
(+/-) £79.52 |
*1 trading lot is equivalent of 100.000 units
**EUR/USD = 1.07446
***GBP/USD = 1.25751
Calculations for exchange rate used as of Thursday, April 11, 2024, GMT 14:20h