GBP USD Technical Analysis 18 December 2020
GBP USD Technical Analysis: The GBP rose 0.55% against the USD on Thursday and closed at 1.3583. Today in the Asian session, while GBP USD technical Analysis 18 December 2020 at 4:45 GMT, the GBP/USD is trading at 1.3555, which is 0.21% lower against the USD from yesterday’s close.
The pair is expected to find support at 1.3510 and a fall through could take it to the next support level of 1.3435 The pair is expected to find its first resistance at 1.3620 and a rise through could take it to the next resistance level of 1.3640. Today’s expected trading range is between 1.3285, support and 1.3700 resistance.
The expected trend for today is Bearish
Important support levels:
Support 1: 1.3510
Support 2: 1.3435
Support 3: 1.3285
Important resistance levels:
Resistance 1: 1.3620
Resistance 2: 1.3640
Resistance 3: 1.3700
GBP/USD buying opportunity for intraday trading on December 18, 2020
Buy near the support zones 1.3510 and 1.3435 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 18, 2020
Sell near the resistance zones 1.3620 and 1.3640 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.