GBP USD Technical Analysis 10 August 2020
GBP USD Technical Analysis: The GBP declined 0.66% against the USD on Friday and closed at 1.3053. Today in the Asian session, while GBP USD technical Analysis 10 August 2020 at 5:15 GMT, the GBP/USD is trading at 1.3057, which is 0.03% higher against the USD from yesterday’s close.
The pair is expected to find support at 1.3010 and a fall through could take it to the next support level of 1.2985 The pair is expected to find its first resistance at 1.3075 and a rise through could take it to the next resistance level of 1.3130. Today’s expected trading range is between 1.2930, support and 1.3180 resistance.
The expected trend for today is Bearish
Important support levels:
Support 1: 1.3010
Support 2: 1.2985
Support 3: 1.2930
Important resistance levels:
Resistance 1: 1.3075
Resistance 2: 1.3130
Resistance 3: 1.3180
GBP/USD buying opportunity for intraday trading on August 10, 2020
Buy near the support zones 1.3010 and 1.2985 as soon as you get a reversal candlestick pattern, using a stop loss 2 points below the low of the reversal candle, and keep the target equal to the stop loss.
GBP/USD selling opportunity for intraday trading on August 10, 2020
Sell near the resistance zones 1.3075 and 1.3130 as soon as you get a reversal candlestick pattern, using a stop loss 2 points above the high of the reversal candle, and keep the target equal to the stop loss.