GBP USD Technical Analysis 31 August 2020
GBP USD Technical Analysis: The GBP rose 1.13% against the USD on Thursday and closed at 1.3351. Today in the Asian session, while GBP USD technical Analysis 31 August 2020 at 5:15 GMT, the GBP/USD is trading at 1.3312, which is 0.29% lower against the USD from yesterday’s close.
The pair is expected to find support at 1.3255 and a fall through could take it to the next support level of 1.3240 The pair is expected to find its first resistance at 1.3365 and a rise through could take it to the next resistance level of 1.3410. Today’s expected trading range is between 1.3165, support and 1.3465 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 1.3255
Support 2: 1.3240
Support 3: 1.3165
Important resistance levels:
Resistance 1: 1.3365
Resistance 2: 1.3410
Resistance 3: 1.3465
GBP/USD buying opportunity for intraday trading on August 31, 2020
Buy near the support zones 1.3255 and 1.3240 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 31, 2020
Sell near the resistance zones 1.3365 and 1.3410 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.