GBP USD Technical Analysis 5 March 2021
GBP USD Technical Analysis: The GBP declined 0.39% against the USD on Thursday and closed at 1.3893. Today in the Asian session, while GBP USD technical Analysis 28 December 2020 at 4:45 GMT, the GBP/USD is trading at 1.3815, which is 0.57% lower against the USD from yesterday’s close.
The pair is expected to find support at 1.3800 and a fall through could take it to the next support level of 1.3775 The pair is expected to find its first resistance at 1.4000 and a rise through could take it to the next resistance level of 1.4015. Today’s expected trading range is between 1.3750, support and 1.4015 resistance.
The expected trend for today is Bearish
Important support levels:
Support 1: 1.3800
Support 2: 1.3775
Support 3: 1.3750
Important resistance levels:
Resistance 1: 1.4000
Resistance 2: 1.4015
Resistance 3: 1.4065
GBP/USD buying opportunity for intraday trading on March 5, 2021
Buy near the support zones 1.3800 and 1.3775 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 March 5, 2021
Sell near the resistance zones 1.4000 and 1.4015 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.