GBP USD Technical Analysis 23 July 2020
GBP USD Technical Analysis: The GBP rose 0.02% against the USD on Wednesday and closed at 1.2732. Today in the Asian session, while GBP USD technical Analysis 23 July 2020 at 5:15 GMT, the GBP/USD is trading at 1.2715, which is 0.14% lower against the USD from yesterday’s close.
The pair is expected to find support at 1.2700 and a fall through could take it to the next support level of 1.2650 The pair is expected to find its first resistance at 1.2765 and a rise through could take it to the next resistance level of 1.2800. Today’s expected trading range is between 1.2600, support and 1.2870 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 1.2700
Support 2: 1.2650
Support 3: 1.2600
Important resistance levels:
Resistance 1: 1.2765
Resistance 2: 1.2800
Resistance 3: 1.2870
GBP/USD buying opportunity for intraday trading on July 23, 2020
Buy near the support zones 1.2700 and 1.2650 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 23, 2020
Sell near the resistance zones 1.2765 and 1.2800 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.