GBP USD Technical Analysis 16 October 2019

GBP USD Technical Analysis: The GBP rose 1.42% against the USD on Tuesday and closed at 1.2783. Today in the Europen session while preparing GBP USD technical Analysis 16 October 2019 at 7:15 GMT, the GBP/USD is trading at 1.2780, which is 0.02% lower against the USD from yesterday’s close.

The pair is expected to find support at 1.2657 and a fall through could take it to the next support level of 1.2530. The pair is expected to find its first resistance at 1.2855, and a rise through could take it to the next resistance level of 1.2925. For today the expected trading range is between 1.2657, Support and 1.2925 Resistance.

The expected trend for today is Bearish

Supports Levels: Support 1: 1.2657, Support 2: 1.2530, Support 3: 1.2460
Resistance Levels: Resistance 1: 1.2855, Resistance 2: 1.2925, Resistance 3: 1.3050

GBP/USD Buying Opportunity for Intraday Trading 16 October 2019

Buy near the support area 1.2657 and 1.2530 as soon as you get reversal candlesticks using stop loss 2 pips below the low of reversal candlestick & keep target equal to stop loss.

GBP/USD Selling Opportunity for Intraday Trading 16 October 2019

Sell near the resistance area 1.2855 and 1.2925 as soon as you get reversal candlesticks patterns using stop loss 2 pips above the high of reversal candlestick & keep target equal to stop loss.

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