GBP USD Technical Analysis 4 December 2020
GBP USD Technical Analysis: The GBP declined 0.63% against the USD on Thursday and closed at 1.3450. Today in the Asian session, while GBP USD technical Analysis 4 December 2020 at 4:45 GMT, the GBP/USD is trading at 1.3467, which is 0.12% higher against the USD from yesterday’s close.
The pair is expected to find support at 1.3370 and a fall through could take it to the next support level of 1.3410 The pair is expected to find its first resistance at 1.3500 and a rise through could take it to the next resistance level of 1.3515. Today’s expected trading range is between 1.3410, support and 1.3580 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 1.3410
Support 2: 1.3270
Support 3: 1.3290
Important resistance levels:
Resistance 1: 1.3500
Resistance 2: 1.3515
Resistance 3: 1.3580
GBP/USD buying opportunity for intraday trading on December 4, 2020
Buy near the support zones 1.3370 and 1.3410 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 December 4, 2020
Sell near the resistance zones 1.3500 and 1.3515 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.