GBP USD Technical Analysis Aug 12, 2019
GBP USD Technical Analysis: The GBP declined 0.89% against the USD on Friday and closed at 1.2023. Today in the Europen session while preparing GBP USD technical Analysis Aug 12, 2019 at 7:15 GMT, the GBP/USD is trading at 1.2082, which is 0.49% higher against the USD from yesterday’s close.
The pair is expected to find support at 1.1982 and a fall through could take it to the next support level of 1.1040. The pair is expected to find its first resistance at 1.2105, and a rise through could take it to the next resistance level of 1.2188. For today the expected trading range is between 1.1940, Support and 1.2188 Resistance.
The expected trend for today is Bullish
Supports Levels: Support 1: 1.1982, Support 2: 1.1940, Support 3: 1.1857
Resistance Levels: Resistance 1: 1.2105, Resistance 2: 1.2188, Resistance 3: 1.2230
GBP/USD Buying Opportunity for Intraday Trading Aug 12, 2019
Buy near the support area 1.1982 and 1.1940 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 Aug 12, 2019
Sell near the resistance area 1.2105 and 1.2188 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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