GBP USD Technical Analysis 4 September 2020
GBP USD Technical Analysis: The GBP declined 0.53% against the USD on Thursday and closed at 1.3280. Today in the Asian session, while GBP USD technical Analysis 4 September 2020 at 5:15 GMT, the GBP/USD is trading at 1.3290, which is 0.07% higher 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 1.3225 The pair is expected to find its first resistance at 1.3345 and a rise through could take it to the next resistance level of 1.3400. Today’s expected trading range is between 1.3170, support and 1.3400 resistance.
The expected trend for today is Bearish
Important support levels:
Support 1: 1.3255
Support 2: 1.3225
Support 3: 1.3170
Important resistance levels:
Resistance 1: 1.3345
Resistance 2: 1.3400
Resistance 3: 1.3475
GBP/USD buying opportunity for intraday trading on September 4, 2020
Buy near the support zones 1.3255 and 1.3225 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 September 4, 2020
Sell near the resistance zones 1.3345 and 1.3400 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.