GBP USD Technical Analysis 8 March 2021
GBP USD Technical Analysis: The GBP declined 0.45% against the USD on Friday and closed at 1.3829. Today in the Asian session, while GBP USD technical Analysis 28 December 2020 at 4:45 GMT, the GBP/USD is trading at 1.3812, which is 0.12% lower against the USD from yesterday’s close.
The pair is expected to find support at 1.3780 and a fall through could take it to the next support level of 1.3750 The pair is expected to find its first resistance at 1.3900 and a rise through could take it to the next resistance level of 1.3925. Today’s expected trading range is between 1.3690, support and 1.3925 resistance.
The expected trend for today is Bearish
Important support levels:
Support 1: 1.3780
Support 2: 1.3750
Support 3: 1.3690
Important resistance levels:
Resistance 1: 1.3900
Resistance 2: 1.3925
Resistance 3: 1.4000
GBP/USD buying opportunity for intraday trading on March 8, 2021
Buy near the support zones 1.3780 and 1.3750 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 March 8, 2021
Sell near the resistance zones 1.3900 and 1.3925 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.