GBPUSD Potentially BUY
For GBP/USD on 18 June 2024, the price action analysis based on support and resistance levels is as follows:
- Resistance Levels: The initial resistance lies at 1.2760. If the price moves beyond this point, the next resistance levels are at 1.2800 and 1.2850.
- Support Levels: On the downside, support levels are situated at 1.2710, 1.2680, and 1.2650. The expected trading range is between 1.2610 support and 1.2750 resistance.
If GBP/USD breaches the 1.2700 level, it may indicate a potential recovery; otherwise, staying below this level could support a continuation of the bearish trend¹. Please note that these analyses are based on current market conditions and can change due to various factors. It's important to stay updated with the latest market news and conduct your own analysis before making any trading decisions.
- Resistance Levels: The initial resistance lies at 1.2760. If the price moves beyond this point, the next resistance levels are at 1.2800 and 1.2850.
- Support Levels: On the downside, support levels are situated at 1.2710, 1.2680, and 1.2650. The expected trading range is between 1.2610 support and 1.2750 resistance.
If GBP/USD breaches the 1.2700 level, it may indicate a potential recovery; otherwise, staying below this level could support a continuation of the bearish trend¹. Please note that these analyses are based on current market conditions and can change due to various factors. It's important to stay updated with the latest market news and conduct your own analysis before making any trading decisions.
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