GBP USD Technical Analysis September 24, 2018
The GBP declined 1.37% against the USD on Friday and closed at 1.3080. Today in the Asian session while preparing GBP USD technical analysis aseptember 24, 2018 at 7:15 GMT, the GBP/USD is trading at 1.3085, which is 0.03% higher against the USD from yesterday’s close.
When the European market opens, the economic data will release British CBI Industrial Trends Order: The monthly industrial order balance of the Confederation of British Industry fell from a 11-month period in the previous month to a three-month low of 7 months in August 2018, and the market is expected to be nine. At the same time, the indicator for measuring production expectations rose from the previous 14 to 20 months, while the export order book index remained at 9.
UK retail sales growth year-on-year: UK retail sales rose 3.3% year-on-year, following a 3.8% increase in July and easily exceeded market expectations of 2.3%.
GBP USD Technical Analysis September 24, 2018
The pair is expected to find support at 1.3000, and a fall through could take it to the next support level of 1.2915 The pair is expected to find its first resistance at 1.3220, and a rise through could take it to the next resistance level of 1.3358. For today the expected trading range is between 1.3095, Support and 1.3225 Resistance.
The expected trend for today is Bullish
Supports Levels: Support 1: 1.3000 Support 2: 1.2915 Support 3: 1.2775
Resistance Levels: Resistance 1: 1.3220 Resistance 2: 1.3358 Resistance 3: 1.3442
Previous day`s high: 1.3275
Previous day`s low: 1.3053
GBP/USD Buying Opportunity for Intraday Trading September 24, 2018
Buy near the support area 1.3000 and 1.2915 as soon as you get reversal candlesticks patterns like Hammer, Bullish Englufing, Long Leged Doji or Dragonfly Doji, using stop loss 2 pips below the reversal candlestick & keep target equal to stop loss.
EUR/USD Selling Opportunity for Intraday Trading September 24, 2018
Sell near the resistance area 1.3220 and 1.3358 as soon as you get reversal candlesticks patterns like Shooting Star, Bearish Englufing, Long Leged Doji or Gravestone Doji, using stop loss 2 pips above the reversal candlestick & keep target equal to stop loss.
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