Technical Analysis Daily: GBP/USD

GBP/USD 1.7385

GBP/USD Open 1.8440 High 1.7709 Low 1.7336 Close 1.7442

The British Pound also continued descending significantly yesterday against the US Dollar from Monday's top 1.7709 to the bottom 1.7336, which are the first resistance and support levels respectively for the currency couple today. If the negative trend continues, as we expect for the moment, next support further down is expected at 1.7250, followed by 1.7160. In upward direction next resistance for today is expected at 1.7790, the break of which would lead to next target 1.7875.

Technical resistance levels: 1.7710 1.7790 1.7875
Technical support levels: 1.7335 1.7250 1.7160

Trading range: 1.7395 - 1.7325

Trend: Downward

Sell at 1.7385 SL 1.7415 TP 1.7335

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