GBP USD Technical Analysis 21 October 2020
GBP USD Technical Analysis: The GBP rose 0.04% against the USD on Tuesday and closed at 1.2947. Today in the Asian session, while GBP USD technical Analysis 21 October 2020 at 4:45 GMT, the GBP/USD is trading at 1.3047, which is 0.78% higher against the USD from yesterday’s close.
The pair is expected to find support at 1.2915 and a fall through could take it to the next support level of 1.2865 The pair is expected to find its first resistance at 1.3065 and a rise through could take it to the next resistance level of 1.3080. Today’s expected trading range is between 1.2845, support and 1.3080 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 1.2915
Support 2: 1.2865
Support 3: 1.2845
Important resistance levels:
Resistance 1: 1.3065
Resistance 2: 1.3080
Resistance 3: 1.3100
GBP/USD buying opportunity for intraday trading on October 21, 2020
Buy near the support zones 1.2915 and 1.2865 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 October 21, 2020
Sell near the resistance zones 1.3065 and 1.3080 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.