GBP USD Technical Analysis 17 December 2020
GBP USD Technical Analysis: The GBP rose 0.37% against the USD on Wednesday and closed at 1.3507. Today in the Asian session, while GBP USD technical Analysis 17 December 2020 at 4:45 GMT, the GBP/USD is trading at 1.3535, which is 0.20% higher against the USD from yesterday’s close.
The pair is expected to find support at 1.3450 and a fall through could take it to the next support level of 1.3380 The pair is expected to find its first resistance at 1.3560 and a rise through could take it to the next resistance level of 1.3600. Today’s expected trading range is between 1.3285, support and 1.3650 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 1.3450
Support 2: 1.3380
Support 3: 1.3285
Important resistance levels:
Resistance 1: 1.3560
Resistance 2: 1.3600
Resistance 3: 1.3650
GBP/USD buying opportunity for intraday trading on December 17, 2020
Buy near the support zones 1.3450 and 1.3380 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 17, 2020
Sell near the resistance zones 1.3560 and 1.3600 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.