GBPUSD Today's Projection 11/08/22
GBPUSD
GBPUSD also took advantage of yesterday's bad CPI momentum and re-entered the range 1.22017 - 1.22994. The price probably will make a correction today at least to its new support, but there is a potential for the price to correct to its MA8 which is still at 1.21500 which means it is still in the previous range where if the price corrects to its MA8, Cable must try to break through the 1.22017 resistance again to go back up .
[Possible to take]
The right decision for yesterday's SL BEP. Going back to BUY for this pair is quite risky because of the PPI news tonight.
R3 1.24310
R2 1.24093
R1 1.22994
PV 1.22017
S1 1.21666
S2 1.20604
S3 1.20102
GBPUSD also took advantage of yesterday's bad CPI momentum and re-entered the range 1.22017 - 1.22994. The price probably will make a correction today at least to its new support, but there is a potential for the price to correct to its MA8 which is still at 1.21500 which means it is still in the previous range where if the price corrects to its MA8, Cable must try to break through the 1.22017 resistance again to go back up .
[Possible to take]
The right decision for yesterday's SL BEP. Going back to BUY for this pair is quite risky because of the PPI news tonight.
R3 1.24310
R2 1.24093
R1 1.22994
PV 1.22017
S1 1.21666
S2 1.20604
S3 1.20102
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