GBP USD Technical Analysis December 4, 2018
The GBP declined 0.16% against the USD on Monday and closed at 1.2722. Today in the Europen session while preparing GBP USD technical analysis December 4, 2018 at 7:15 GMT, the GBP/USD is trading at 1.2800, which is 0.61% higher against the USD from yesterday’s close.
The pair is expected to find support at 1.2720 and a fall through could take it to the next support level of 1.2690 The pair is expected to find its first resistance at 1.2874, and a rise through could take it to the next resistance level of 1.2924. For today the expected trading range is between 1.2672, Support and 1.2874 Resistance.
The expected trend for today is Bullish
Supports Levels: Support 1: 1.2672 Support 2: 1.2622 Support 3: 1.2546
Resistance Levels: Resistance 1: 1.2798 Resistance 2: 1.2874 Resistance 3: 1.2924
GBP/USD Buying Opportunity for Intraday Trading December 4, 2018
Buy near the support area 1.2672 and 1.2622 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 4, 2018
Sell near the resistance area 1.2874 and 1.2924 as soon as you get reversal candlesticks patterns using stop loss 4 pips above the reversal candlestick & keep target equal to stop loss.