GBP USD Technical Analysis 9 October 2020
GBP USD Technical Analysis: The GBP rose 0.17% against the USD on Thursday and closed at 1.2936. Today in the Asian session, while GBP USD technical Analysis 9 October 2020 at 4:45 GMT, the GBP/USD is trading at 1.2930, which is 0.04% higher against the USD from yesterday’s close.
The pair is expected to find support at 1.2892 and a fall through could take it to the next support level of 1.2850 The pair is expected to find its first resistance at 1.2970 and a rise through could take it to the next resistance level of 1.3000. Today’s expected trading range is between 1.2820, support and 1.3055 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 1.2892
Support 2: 1.2850
Support 3: 1.2820
Important resistance levels:
Resistance 1: 1.2970
Resistance 2: 1.3000
Resistance 3: 1.3055
GBP/USD buying opportunity for intraday trading on October 9, 2020
Buy near the support zones 1.2892 and 1.2850 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 October 9, 2020
Sell near the resistance zones 1.2970 and 1.3000 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.