GBP USD Technical Analysis 6 August 2020
GBP USD Technical Analysis: The GBP rose 0.32% against the USD on Wednesday and closed at 1.3112. Today in the Asian session, while GBP USD technical Analysis 6 August 2020 at 5:15 GMT, the GBP/USD is trading at 1.3132, which is 0.15% higher against the USD from yesterday’s close.
The pair is expected to find support at 1.3100 and a fall through could take it to the next support level of 1.3060 The pair is expected to find its first resistance at 1.3165 and a rise through could take it to the next resistance level of 1.3210. Today’s expected trading range is between 1.2980, support and 1.3270 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 1.3100
Support 2: 1.3060
Support 3: 1.2980
Important resistance levels:
Resistance 1: 1.3165
Resistance 2: 1.3210
Resistance 3: 1.3270
GBP/USD buying opportunity for intraday trading on August 6, 2020
Buy near the support zones 1.3100 and 1.3060 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 6, 2020
Sell near the resistance zones 1.3165 and 1.3210 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.