GBP USD Technical Analysis December 12, 2018
The GBP declined 1.18% against the USD on Tuesday and closed at 1.2557. Today in the Europen session while preparing GBP USD technical analysis December 12, 2018 at 7:15 GMT, the GBP/USD is trading at 1.2627, which is 0.55% higher against the USD from yesterday’s close.
The pair is expected to find support at 1.2431 and a fall through could take it to the next support level of 1.2376 The pair is expected to find its first resistance at 1.2590, and a rise through could take it to the next resistance level of 1.2693. For today the expected trading range is between 1.2376, Support and 1.2590 Resistance.
The expected trend for today is Bullish
Supports Levels: Support 1: 1.2431 Support 2: 1.2376 Support 3: 1.2273
Resistance Levels: Resistance 1: 1.2590 Resistance 2: 1.2693 Resistance 3: 1.2748
GBP/USD Buying Opportunity for Intraday Trading December 12, 2018
Buy near the support area 1.2421 and 1.2376 as soon as you get reversal candlesticks using stop loss 4 pips below the reversal candlestick & keep target equal to stop loss.
GBP/USD Selling Opportunity for Intraday Trading December 12, 2018
Sell near the resistance area 1.2590 and 1.2693 as soon as you get reversal candlesticks patterns using stop loss 4 pips above the reversal candlestick & keep target equal to stop loss.