GBP USD Technical Analysis 28 July 2020
GBP USD Technical Analysis: The GBP rose 0.69% against the USD on Monday and closed at 1.2880. Today in the Asian session, while GBP USD technical Analysis 28 July 2020 at 5:15 GMT, the GBP/USD is trading at 1.2857, which is 0.18% lower against the USD from yesterday’s close.
The pair is expected to find support at 1.2850 and a fall through could take it to the next support level of 1.2800 The pair is expected to find its first resistance at 1.2900 and a rise through could take it to the next resistance level of 1.2930. Today’s expected trading range is between 1.2725, support and 1.2980 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 1.2850
Support 2: 1.2800
Support 3: 1.2725
Important resistance levels:
Resistance 1: 1.2900
Resistance 2: 1.2930
Resistance 3: 1.2980
GBP/USD buying opportunity for intraday trading on July 28, 2020
Buy near the support zones 1.2850 and 1.2800 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 July 28, 2020
Sell near the resistance zones 1.2900 and 1.2930 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.