GBP USD Technical Analysis 18 August 2020
GBP USD Technical Analysis: The GBP rose 0.09% against the USD on Monday and closed at 1.3103. Today in the Asian session, while GBP USD technical Analysis 18 August 2020 at 5:15 GMT, the GBP/USD is trading at 1.3140, which is 0.27% higher against the USD from yesterday’s close.
The pair is expected to find support at 1.3100 and a fall through could take it to the next support level of 1.3077 The pair is expected to find its first resistance at 1.3045 and a rise through could take it to the next resistance level of 1.3180. Today’s expected trading range is between 1.3050, support and 1.3200 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 1.3100
Support 2: 1.3077
Support 3: 1.3050
Important resistance levels:
Resistance 1: 1.3045
Resistance 2: 1.3180
Resistance 3: 1.3200
GBP/USD buying opportunity for intraday trading on August 18, 2020
Buy near the support zones 1.3100 and 1.3077 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 August 18, 2020
Sell near the resistance zones 1.3045 and 1.3180 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.