Technical Analysis Daily: GBP/USD

GBP/USD 1.8394

GBP/USD Open 1.8518 High 1.8485 Low 1.8297 Close 1.8358

The British Pound descended significantly yesterday against the US Dollar from Wednesday's top 1.8485 to the bottom 1.8297, which are the the first resistance and support levels respectively for the currency couple today. If the negative trend continues as we expect for today, next support is expected at 1.8240, followed by 1.8180. In upward direction next resistance for today is expected at 1.8550, the break of which would lead to next target 1.8630.

Technical resistance levels: 1.8485 1.8550 1.8630
Technical support levels: 1.8295 1.8240 1.8180

Trading range: 1.8405 - 1.8330

Trend: Downward

Sell at 1.8394 SL 1.8424 TP 1.8344

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