GBP USD Technical Analysis 25 August 2020
GBP USD Technical Analysis: The GBP declined 0.15% against the USD on Monday and closed at 1.3062. Today in the Asian session, while GBP USD technical Analysis 25 August 2020 at 5:15 GMT, the GBP/USD is trading at 1.3100, which is 0.36% higher against the USD from yesterday’s close.
The pair is expected to find support at 1.3050 and a fall through could take it to the next support level of 1.3025 The pair is expected to find its first resistance at 1.3125 and a rise through could take it to the next resistance level of 1.3150. Today’s expected trading range is between 1.3000, support and 1.3185 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 1.3050
Support 2: 1.3025
Support 3: 1.3000
Important resistance levels:
Resistance 1: 1.3125
Resistance 2: 1.3150
Resistance 3: 1.3185
GBP/USD buying opportunity for intraday trading on August 25, 2020
Buy near the support zones 1.3050 and 1.3025 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 25, 2020
Sell near the resistance zones 1.3125 and 1.3150 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.