GBP USD Technical Analysis 20 April 2020

GBP USD Technical Analysis: The GBP rose 0.40% against the USD on Friday and closed at 1.2505. Today in the Europen session while preparing GBP USD technical Analysis 20 April 2020 at 6:45 GMT, the GBP/USD is trading at 1.2490, which is 0.11% lower against the USD from yesterday’s close.

The pair is expected to find support at 1.2434 and a fall through could take it to the next support level of 1.2362. The pair is expected to find its first resistance at 1.2550, and a rise through could take it to the next resistance level of 1.2594. For today the expected trading range is between 1.2362, Support and 1.2594 Resistance.

The expected trend for today is Bearish

Supports Levels: Support 1: 1.2434, Support 2: 1.2362, Support 3: 1.2318
Resistance Levels: Resistance 1: 1.2550, Resistance 2: 1.2594, Resistance 3: 1.2665

GBP/USD Buying Opportunity for Intraday Trading 20 April 2020

Buy near the support area 1.2424 and 1.2462 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 20 April 2020

Sell near the resistance area 1.2550 and 1.2594 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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