GBP USD Technical Analysis 4 May 2020
GBP USD Technical Analysis: The GBP declined 0.85% against the USD on Friday and closed at 1.2492. Today in the Europen session while preparing GBP USD technical Analysis 4 May 2020 at 6:45 GMT, the GBP/USD is trading at 1.2440, which is 0.41% lower against the USD from yesterday’s close.
The pair is expected to find support at 1.2407 and a fall through could take it to the next support level of 1.2333. The pair is expected to find its first resistance at 1.2567, and a rise through could take it to the next resistance level of 1.2642. For today the expected trading range is between 1.2333, Support and 1.2567 Resistance.
The expected trend for today is Bearish
Supports Levels: Support 1: 1.2450, Support 2: 1.2407, Support 3: 1.2333
Resistance Levels: Resistance 1: 1.2567, Resistance 2: 1.2642, Resistance 3: 1.2684
GBP/USD Buying Opportunity for Intraday Trading 4 May 2020
Buy near the support area 1.2407 and 1.2333 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 4 May 2020
Sell near the resistance area 1.2567 and 1.2642 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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