GBP USD Technical Analysis 16 December 2020
GBP USD Technical Analysis: The GBP declined 0.99% against the USD on Tuesday and closed at 1.3457. Today in the Asian session, while GBP USD technical Analysis 16 December 2020 at 4:45 GMT, the GBP/USD is trading at 1.3445, which is 0.09% lower against the USD from yesterday’s close.
The pair is expected to find support at 1.3335 and a fall through could take it to the next support level of 1.3285 The pair is expected to find its first resistance at 1.3470 and a rise through could take it to the next resistance level of 1.3535. Today’s expected trading range is between 1.3285, support and 1.3600 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 1.3335
Support 2: 1.3285
Support 3: 1.3135
Important resistance levels:
Resistance 1: 1.3470
Resistance 2: 1.3535
Resistance 3: 1.3600
GBP/USD buying opportunity for intraday trading on December 16, 2020
Buy near the support zones 1.3335 and 1.3285 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 16, 2020
Sell near the resistance zones 1.3470 and 1.3535 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.