GBP USD Technical Analysis 14 May 2020
GBP USD Technical Analysis: The GBP declined 0.23% against the USD on Wednesday and closed at 1.2228. Today in the Europen session while preparing GBP USD technical Analysis 14 May 2020 at 6:45 GMT, the GBP/USD is trading at 1.2220, which is 0.06% lower against the USD from yesterday’s close.
The pair is expected to find support at 1.2280 and a fall through could take it to the next support level of 1.2130 The pair is expected to find its first resistance at 1.2310, and a rise through could take it to the next resistance level of 1.2390. For today the expected trading range is between 1.2050, Support and 1.2390 Resistance.
The expected trend for today is Bearish
Supports Levels: Support 1: 1.2280, Support 2: 1.2130, Support 3: 1.2050
Resistance Levels: Resistance 1: 1.2310, Resistance 2: 1.2390, Resistance 3: 1.2438
GBP/USD Buying Opportunity for Intraday Trading 14 May 2020
Buy near the support area 1.2180 and 1.2130 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 14 May 2020
Sell near the resistance area 1.2310 and 1.2390 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.
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