GBP USD Technical Analysis 31 July 2020
GBP USD Technical Analysis: The GBP rose 0.75% against the USD on Thursday and closed at 1.3094. Today in the Asian session, while GBP USD technical Analysis 31 July 2020 at 5:15 GMT, the GBP/USD is trading at 1.3137, which is 0.33% 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 1.3000 The pair is expected to find its first resistance at 1.3145 and a rise through could take it to the next resistance level of 1.3200. Today’s expected trading range is between 1.1940, support and 1.3200 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 1.3050
Support 2: 1.3000
Support 3: 1.1940
Important resistance levels:
Resistance 1: 1.3145
Resistance 2: 1.3200
Resistance 3: 1.3280
GBP/USD buying opportunity for intraday trading on July 31, 2020
Buy near the support zones 1.2350 and 1.3000 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 31, 2020
Sell near the resistance zones 1.3145 and 1.3200 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.