GBP USD Technical Analysis 20 August 2020
GBP USD Technical Analysis: The GBP declined 1.05% against the USD on Wednesday and closed at 1.3097. Today in the Asian session, while GBP USD technical Analysis 20 August 2020 at 5:15 GMT, the GBP/USD is trading at 1.3105, which is 0.05% higher against the USD from yesterday’s close.
The pair is expected to find support at 1.3045 and a fall through could take it to the next support level of 1.3005 The pair is expected to find its first resistance at 1.3150 and a rise through could take it to the next resistance level of 1.3210. Today’s expected trading range is between 1.2980, support and 1.3265 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 1.3045
Support 2: 1.3005
Support 3: 1.2980
Important resistance levels:
Resistance 1: 1.3150
Resistance 2: 1.3210
Resistance 3: 1.3265
GBP/USD buying opportunity for intraday trading on August 20, 2020
Buy near the support zones 1.3045 and 1.3005 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 20, 2020
Sell near the resistance zones 1.3265 and 1.3295 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.