NEWS: GBP/USD price is rising 0.7% on a weaker US Dollar after the US Fed announced yesterday its first rate cut since 2020.
Possible Scenarios:
If GBPUSD fails to breach through R1 of 1.32579, our Research Department expects GBPUSD to undergo a short- term downward correction.
If GBPUSD manages to break above its R1 of 1.32579, our Research Department expects GBPUSD to extend its gains to its R2 of 1.32850.
Support and Resistance Levels:
GBPUSD |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
1.31315 |
1.31586 |
1.31857 |
1.32218 |
1.32579 |
1.32850 |
1.33121 |
Potential Profit or Potential Loss Calculations:
10 pips per 1 trading lot* |
USD |
EUR** |
GBP*** |
(+/-) $100 |
(+/-) €89.68 |
(+/-) £75.43 |
*1 trading lot is equivalent of 100.000 units
**EUR/USD= 1.11510
***GBP/USD= 1.32573
Calculations for exchange rate used as of Thursday, September 19, 2024, 08:00 GMT+1