GBP USD Technical Analysis 21 August 2020
GBP USD Technical Analysis: The GBP rose 0.88% against the USD on Thursday and closed at 1.3212. Today in the Asian session, while GBP USD technical Analysis 21 August 2020 at 5:15 GMT, the GBP/USD is trading at 1.3164, which is 0.37% lower against the USD from yesterday’s close.
The pair is expected to find support at 1.3110 and a fall through could take it to the next support level of 1.3065 The pair is expected to find its first resistance at 1.3250 and a rise through could take it to the next resistance level of 1.3265. Today’s expected trading range is between 1.3045, support and 1.3265 resistance.
The expected trend for today is Bearish
Important support levels:
Support 1: 1.3110
Support 2: 1.3065
Support 3: 1.3045
Important resistance levels:
Resistance 1: 1.3250
Resistance 2: 1.3265
Resistance 3: 1.3325
GBP/USD buying opportunity for intraday trading on August 21, 2020
Buy near the support zones 1.3110 and 1.3065 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 21, 2020
Sell near the resistance zones 1.3250 and 1.3265 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.