Technical Analysis Daily: GBP/USD

GBP/USD 1.6874

GBP/USD Open 1.8440 High 1.7397 Low 1.6807 Close 1.7092

The British Pound descended significantly yesterday against the US Dollar from Wednesday's top 1.7397 to this morning's bottom 1.6807, which are the first resistance and support levels respectively for the currency couple today. But at the moment the GBP/USD couple is correcting upwards, and if the positive trend continues, as we expect for the moment, next resistance for today is expected at 1.7475, the break of which would lead to next target 1.7550. In downward direction next support further down is expected at 1.6725, followed by 1.6640.

Technical resistance levels: 1.7395 1.7475 1.7550
Technical support levels: 1.6805 1.6725 1.6640

Trading range: 1.6860 - 1.6915

Trend: Upward

Buy at 1.6874 SL 1.6844 TP 1.6904

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