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GBP USD Technical Analysis December 7, 2018

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GBP USD Technical Analysis December 7, 2018

The GBP rose 0.39% against the USD on Thursday and closed at 1.2781. Today in the Europen session while preparing GBP USD technical analysis December 7, 2018 at 7:15 GMT, the GBP/USD is trading at 1.2765, which is 0.12% lower against the USD from yesterday’s close.

The pair is expected to find support at 1.2716 and a fall through could take it to the next support level of 1.2651 The pair is expected to find its first resistance at 1.2828, and a rise through could take it to the next resistance level of 1.2876. For today the expected trading range is between 1.2716, Support and 1.2876 Resistance.

The expected trend for today is Bearish

Supports Levels: Support 1: 1.2716 Support 2: 1.2651 Support 3: 1.2605
Resistance Levels: Resistance 1: 1.2828 Resistance 2: 1.2876 Resistance 3: 1.2940

GBP/USD Buying Opportunity for Intraday Trading December 7, 2018

Buy near the support area 1.2716 and 1.2651 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 7, 2018

Sell near the resistance area 1.2828 and 1.2876 as soon as you get reversal candlesticks patterns using stop loss 4 pips above the reversal candlestick & keep target equal to stop loss.

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