NEWS: GBPUSD price is falling 0.3%. The GBPUSD and all other USD pairs declined as US economic data came in higher than expected, causing a US dollar spike.
Possible Scenarios:
If GBPUSD fails to breach through S2 of 1.2705, our Research Department expects the GBPUSD to undergo a short- term upward correction.
If GBPUSD manages to break below its S2 of 1.2705, our Research Department expects the GBPUSD to extend its losses to its S3 of 1.26851
Support and Resistance Levels:
GBPUSD |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
1.26851 |
1.27050 |
1.27250 |
1.27516 |
1.27782 |
1.27982 |
1.28181 |
Potential Profit or Potential Loss Calculations:
10 pips per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
(+/-) $100 |
(+/-) €91.92 |
(+/-) £78.7 |
*1 trading lot is equivalent of 100.000 units
**EUR/USD= 1.08786
***GBP/USD= 1.27065
Calculations for exchange rate used as of Thursday, March 21, 2024, GMT 14:05h