GBP USD Technical Analysis 8 January 2021
GBP USD Technical Analysis: The GBP declined 0.32% against the USD on Thursday and closed at 1.3562. Today in the Asian session, while GBP USD technical Analysis 28 December 2020 at 4:45 GMT, the GBP/USD is trading at 1.3595, which is 0.25% higher against the USD from yesterday’s close.
The pair is expected to find support at 1.3540 and a fall through could take it to the next support level of 1.3520 The pair is expected to find its first resistance at 1.3620 and a rise through could take it to the next resistance level of 1.3665. Today’s expected trading range is between 1.3420, support and 1.3700 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 1.3540
Support 2: 1.3520
Support 3: 1.3450
Important resistance levels:
Resistance 1: 1.3630
Resistance 2: 1.3665
Resistance 3: 1.3700
GBP/USD buying opportunity for intraday trading on January 8, 2021
Buy near the support zones 1.3540 and 1.3520 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 8, 2021
Sell near the resistance zones 1.3620 and 1.3665 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.