GBP USD Technical Analysis 22 October 2020
GBP USD Technical Analysis: The GBP rose 1.52% against the USD on Wednesday and closed at 1.3145. Today in the Asian session, while GBP USD technical Analysis 22 October 2020 at 4:45 GMT, the GBP/USD is trading at 1.3092, which is 0.41% higher against the USD from yesterday’s close.
The pair is expected to find support at 1.3080 and a fall through could take it to the next support level of 1.3020 The pair is expected to find its first resistance at 1.3175 and a rise through could take it to the next resistance level of 1.3235. Today’s expected trading range is between 1.3000, support and 1.3265 resistance.
The expected trend for today is Bearish
Important support levels:
Support 1: 1.3080
Support 2: 1.3020
Support 3: 1.3000
Important resistance levels:
Resistance 1: 1.3175
Resistance 2: 1.3235
Resistance 3: 1.3265
GBP/USD buying opportunity for intraday trading on October 22, 2020
Buy near the support zones 1.3080 and 1.3020 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 22, 2020
Sell near the resistance zones 1.3175 and 1.3235 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.