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GBP USD Technical Analysis 29 July 2020

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GBP USD Technical Analysis 29 July 2020

GBP USD Technical Analysis: The GBP rose 0.39% against the USD on Tuesday and closed at 1.2930. Today in the Asian session, while GBP USD technical Analysis 29 July 2020 at 5:15 GMT, the GBP/USD is trading at 1.2925, which is 0.04% lower against the USD from yesterday’s close.

The pair is expected to find support at 1.2900 and a fall through could take it to the next support level of 1.2860 The pair is expected to find its first resistance at 1.2975 and a rise through could take it to the next resistance level of 1.3020. Today’s expected trading range is between 1.2800, support and 1.3090 resistance.

The expected trend for today is Bullish

Important support levels:

Support 1: 1.2900
Support 2: 1.2860
Support 3: 1.2800

Important resistance levels:

Resistance 1: 1.2975
Resistance 2: 1.3020
Resistance 3: 1.3090

GBP/USD buying opportunity for intraday trading on July 29, 2020

Buy near the support zones 1.2900 and 1.2860 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 29, 2020

Sell near the resistance zones 1.2975 and 1.3020 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.

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