GBP USD Technical Analysis 17 April 2020

GBP USD Technical Analysis: The GBP declined 0.51% against the USD on Thursday and closed at 1.2455. Today in the Europen session while preparing GBP USD technical Analysis 17 April 2020 at 6:45 GMT, the GBP/USD is trading at 1.2500, which is 0.36% higher against the USD from yesterday’s close.

The pair is expected to find support at 1.2400 and a fall through could take it to the next support level of 1.2345. The pair is expected to find its first resistance at 1.2520, and a rise through could take it to the next resistance level of 1.2583. For today the expected trading range is between 1.2345, Support and 1.2583 Resistance.

The expected trend for today is Bearish

Supports Levels: Support 1: 1.2400, Support 2: 1.2345, Support 3: 1.2280
Resistance Levels: Resistance 1: 1.2520, Resistance 2: 1.2583, Resistance 3: 1.2638

GBP/USD Buying Opportunity for Intraday Trading 17 April 2020

Buy near the support area 1.2400 and 1.2345 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 17 April 2020

Sell near the resistance area 1.2520 and 1.2583 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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