GBP USD Technical Analysis 8 October 2020
GBP USD Technical Analysis: The GBP rose 0.33% against the USD on Wednesday and closed at 1.2915. Today in the Asian session, while GBP USD technical Analysis 8 October 2020 at 4:45 GMT, the GBP/USD is trading at 1.2952, which is 0.30% higher against the USD from yesterday’s close.
The pair is expected to find support at 1.2895 and a fall through could take it to the next support level of 1.2860 The pair is expected to find its first resistance at 1.2980 and a rise through could take it to the next resistance level of 1.3000. Today’s expected trading range is between 1.2810, support and 1.3055 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 1.2895
Support 2: 1.2860
Support 3: 1.2810
Important resistance levels:
Resistance 1: 1.2980
Resistance 2: 1.3000
Resistance 3: 1.3055
GBP/USD buying opportunity for intraday trading on October 8, 2020
Buy near the support zones 1.2895 and 1.2860 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 8, 2020
Sell near the resistance zones 1.2980 and 1.3000 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.