GBP USD Technical Analysis 7 December 2020
GBP USD Technical Analysis: The GBP declined 0.09% against the USD on Friday and closed at 1.3434. Today in the Asian session, while GBP USD technical Analysis 7 December 2020 at 4:45 GMT, the GBP/USD is trading at 1.3242, which is 1.44% lower against the USD from yesterday’s close.
The pair is expected to find support at 1.3240 and a fall through could take it to the next support level of 1.3195 The pair is expected to find its first resistance at 1.3435 and a rise through could take it to the next resistance level of 1.3460. Today’s expected trading range is between 1.3150, support and 1.3460 resistance.
The expected trend for today is Bearish
Important support levels:
Support 1: 1.3240
Support 2: 1.3195
Support 3: 1.3150
Important resistance levels:
Resistance 1: 1.3435
Resistance 2: 1.3460
Resistance 3: 1.3520
GBP/USD buying opportunity for intraday trading on December 7, 2020
Buy near the support zones 1.3240 and 1.3195 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 December 7, 2020
Sell near the resistance zones 1.3435 and 1.3460 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.