GBP USD Technical Analysis 5 May 2020
GBP USD Technical Analysis: The GBP declined 0.32% against the USD on Monday and closed at 1.2442. Today in the Europen session while preparing GBP USD technical Analysis 4 May 2020 at 6:45 GMT, the GBP/USD is trading at 1.2440, which is 0.01% lower against the USD from yesterday’s close.
The pair is expected to find support at 1.2400 and a fall through could take it to the next support level of 1.2363. The pair is expected to find its first resistance at 1.2484, and a rise through could take it to the next resistance level of 1.2526. For today the expected trading range is between 1.2320, Support and 1.2565 Resistance.
The expected trend for today is Bullish
Supports Levels: Support 1: 1.2400, Support 2: 1.2263, Support 3: 1.2320
Resistance Levels: Resistance 1: 1.2484, Resistance 2: 1.2526, Resistance 3: 1.2565
GBP/USD Buying Opportunity for Intraday Trading 5 May 2020
Buy near the support area 1.2400 and 1.2363 as soon as you get reversal candlesticks using stop loss 2 pips below the low of reversal candlestick & keep target equal to stop loss.
GBP/USD Selling Opportunity for Intraday Trading 5 May 2020
Sell near the resistance area 1.2484 and 1.2526 as soon as you get reversal candlesticks patterns using stop loss 2 pips above the high of reversal candlestick & keep target equal to stop loss.
EUR/USD Technical Analysis 5 May 2020
USD/JPY Technical Analysis 5 May 2020
USD/CAD Technical Analysis 5 May 2020