GBP USD Technical Analysis 18 January 2021
GBP USD Technical Analysis: The GBP rose 0.37% against the USD on Friday and closed at 1.3686. Today in the Asian session, while GBP USD technical Analysis 28 December 2020 at 4:45 GMT, the GBP/USD is trading at 1.3645, which is 0.30% lower against the USD from yesterday’s close.
The pair is expected to find support at 1.3520 and a fall through could take it to the next support level of 1.3505 The pair is expected to find its first resistance at 1.3620 and a rise through could take it to the next resistance level of 1.3660. Today’s expected trading range is between 1.3550, support and 1.3660 resistance.
The expected trend for today is Bearish
Important support levels:
Support 1: 1.3520
Support 2: 1.3505
Support 3: 1.3550
Important resistance levels:
Resistance 1: 1.3620
Resistance 2: 1.3660
Resistance 3: 1.3700
GBP/USD buying opportunity for intraday trading on January 18, 2021
Buy near the support zones 1.3520 and 1.3505 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 January 18, 2021
Sell near the resistance zones 1.3620 and 1.3660 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.