GBP USD Technical Analysis 6 January 2021
GBP USD Technical Analysis: The GBP drose 0.42% against the USD on Tuesday and closed at 1.3625. Today in the Asian session, while GBP USD technical Analysis 28 December 2020 at 4:45 GMT, the GBP/USD is trading at 1.3613, which is 0.09% lower against the USD from yesterday’s close.
The pair is expected to find support at 1.3570 and a fall through could take it to the next support level of 1.3545 The pair is expected to find its first resistance at 1.3660 and a rise through could take it to the next resistance level of 1.3700. Today’s expected trading range is between 1.3520, support and 1.3700 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 1.3570
Support 2: 1.3545
Support 3: 1.3520
Important resistance levels:
Resistance 1: 1.3660
Resistance 2: 1.3700
Resistance 3: 1.3725
GBP/USD buying opportunity for intraday trading on January 6, 2021
Buy near the support zones 1.3570 and 1.3545 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 January 6, 2021
Sell near the resistance zones 1.3660 and 1.3700 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.