GBP USD Technical Analysis 14 July 2020
GBP USD Technical Analysis: The GBP declined 0.59% against the USD on Monday and closed at 1.2553. Today in the Asian session, while GBP USD technical Analysis 14 July 2020 at 5:15 GMT, the GBP/USD is trading at 1.2548, which is 0.09% lower against the USD from yesterday’s close.
The pair is expected to find support at 1.2510 and a fall through could take it to the next support level of 1.2565 The pair is expected to find its first resistance at 1.2590 and a rise through could take it to the next resistance level of 1.2630. Today’s expected trading range is between 1.2435, support and 1.2665 resistance.
The expected trend for today is Bearish
Important support levels:
Support 1: 1.2510
Support 2: 1.2565
Support 3: 1.2435
Important resistance levels:
Resistance 1: 1.2590
Resistance 2: 1.2630
Resistance 3: 1.2665
GBP/USD buying opportunity for intraday trading on July 14, 2020
Buy near the support zones 1.2510 and 1.2565 as soon as you get a reversal candlestick pattern, using a stop loss 2 points below the low of the reversal candle, and keep the target equal to the stop loss.
GBP/USD selling opportunity for intraday trading on July 14, 2020
Sell near the resistance zones 1.2590 and 1.2630 as soon as you get a reversal candlestick pattern, using a stop loss 2 points above the high of the reversal candle, and keep the target equal to the stop loss.
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