GBP USD Technical Analysis 21 July 2020
GBP USD Technical Analysis: The GBP rose 0.84% against the USD on Monday and closed at 1.2661. Today in the Asian session, while GBP USD technical Analysis 21 July 2020 at 5:15 GMT, the GBP/USD is trading at 1.2505, which is 0.35% higher against the USD from yesterday’s close.
The pair is expected to find support at 1.2650 and a fall through could take it to the next support level of 1.2615 The pair is expected to find its first resistance at 1.2710 and a rise through could take it to the next resistance level of 1.2760. Today’s expected trading range is between 1.2565, support and 1.2810 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 1.2650
Support 2: 1.2615
Support 3: 1.2565
Important resistance levels:
Resistance 1: 1.2710
Resistance 2: 1.2760
Resistance 3: 1.2810
GBP/USD buying opportunity for intraday trading on July 21, 2020
Buy near the support zones 1.2615 and 1.2615 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 July 21, 2020
Sell near the resistance zones 1.2710 and 1.2760 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.