GBP USD Technical Analysis 6 October 2020
GBP USD Technical Analysis: The GBP rose 0.39% against the USD on Monday and closed at 1.2982. Today in the Asian session, while GBP USD technical Analysis 6 October 2020 at 4:45 GMT, the GBP/USD is trading at 1.2987, which is 0.05% higher against the USD from yesterday’s close.
The pair is expected to find support at 1.2920 and a fall through could take it to the next support level of 1.2900 The pair is expected to find its first resistance at 1.3010 and a rise through could take it to the next resistance level of 1.3055. Today’s expected trading range is between 1.2840, support and 1.3055 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 1.2920
Support 2: 1.2900
Support 3: 1.2840
Important resistance levels:
Resistance 1: 1.3010
Resistance 2: 1.3055
Resistance 3: 1.3100
GBP/USD buying opportunity for intraday trading on October 6, 2020
Buy near the support zones 1.2920 and 1.2900 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 October 6, 2020
Sell near the resistance zones 1.3010 and 1.3055 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.