GBP USD Technical Analysis 13 October 2020
GBP USD Technical Analysis: The GBP rose 0.27% against the USD on Friday and closed at 1.3062. Today in the Asian session, while GBP USD technical Analysis 13 October 2020 at 4:45 GMT, the GBP/USD is trading at 1.3042, which is 0.15% lower against the USD from yesterday’s close.
The pair is expected to find support at 1.3015 and a fall through could take it to the next support level of 1.2970 The pair is expected to find its first resistance at 1.3095 and a rise through could take it to the next resistance level of 1.3125. Today’s expected trading range is between 1.2940, support and 1.3170 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 1.3015
Support 2: 1.2970
Support 3: 1.2940
Important resistance levels:
Resistance 1: 1.3095
Resistance 2: 1.3125
Resistance 3: 1.3170
GBP/USD buying opportunity for intraday trading on October 13, 2020
Buy near the support zones 1.3015 and 1.2970 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 13, 2020
Sell near the resistance zones 1.3095 and 1.3125 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.