NEWS: GBPUSD price is falling 0.3% after the Bank of England decided to keep interest rates unchanged but signaled a cut.
Possible Scenarios:
If GBPUSD fails to breach through S2 of 1.24410, our Research Department expects the GBPUSD to undergo a short- term upward correction.
If GBPUSD manages to break below its S2 of 1.24410, our Research Department expects the GBPUSD to extend its losses to its S3 of 1.24205.
Support and Resistance Levels:
GBPUSD |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
1.24205 |
1.24410 |
1.24616 |
1.24890 |
1.25164 |
1.25370 |
1.25575 |
Potential Profit or Potential Loss Calculations:
10 pips per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
(+/-) $100 |
(+/-) €93.23 |
(+/-) £80.27 |
*1 trading lot is equivalent of 100.000 units
**EUR/USD = 1.07261
***GBP/USD = 1.24581
Calculations for exchange rate used as of Thursday, May 9, 2024, 12:44 GMT+1