Technical Analysis Daily: GBP/USD

GBP/USD 1.7431

GBP/USD Open 1.7019 High 1.7627 Low 1.7266 Close 1.7388

The British Pound recovered significantly yesterday against the US Dollar from Monday's bottom 1.7266 to Tuesday's top 1.7627, which are the first support and resistance levels respectively for the currency couple today. If the positive trend continues, as we expect for the moment, next resistance for today is expected at 1.7700, the break of which would lead to next target 1.7790. In downward direction next support further down is expected at 1.7190, followed by 1.7100.

Technical resistance levels: 1.7625 1.7700 1.7790
Technical support levels: 1.7265 1.7190 1.7100

Trading range: 1.7420 - 1.7485

Trend: Upward

Buy at 1.7431 SL 1.7401 TP 1.7471

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