GBP USD Technical Analysis 7 April 2020
GBP USD Technical Analysis: The GBP rose 0.07% against the USD on Monday and closed at 1.2229. Today in the Asian session while preparing GBP USD technical Analysis 7 April 2020 at 6:45 GMT, the GBP/USD is trading at 1.2280, which is 0.41% higher against the USD from yesterday’s close.
The pair is expected to find support at 1.2183 and a fall through could take it to the next support level of 1.2138. The pair is expected to find its first resistance at 1.2300, and a rise through could take it to the next resistance level of 1.2372. For today the expected trading range is between 1.2128, Support and 1.2372 Resistance.
The expected trend for today is Bearish
Supports Levels: Support 1: 1.2183, Support 2: 1.2138, Support 3: 1.2066
Resistance Levels: Resistance 1: 1.2300, Resistance 2: 1.2372, Resistance 3: 1.2418
GBP/USD Buying Opportunity for Intraday Trading 7 April 2020
Buy near the support area 1.2183 and 1.2138 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 7 April 2020
Sell near the resistance area 1.2300 and 1.2372 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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