GBP USD Technical Analysis 4 March 2021
GBP USD Technical Analysis: The GBP declined 0.02% against the USD on Wednesday and closed at 1.3948. Today in the Asian session, while GBP USD technical Analysis 28 December 2020 at 4:45 GMT, the GBP/USD is trading at 1.3965, which is 0.12% higher against the USD from yesterday’s close.
The pair is expected to find support at 1.3915 and a fall through could take it to the next support level of 1.3860 The pair is expected to find its first resistance at 1.4000 and a rise through could take it to the next resistance level of 1.4055. Today’s expected trading range is between 1.3830, support and 1.4060 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 1.3915
Support 2: 1.3860
Support 3: 1.3830
Important resistance levels:
Resistance 1: 1.4000
Resistance 2: 1.4055
Resistance 3: 1.4085
GBP/USD buying opportunity for intraday trading on March 4, 2021
Buy near the support zones 1.3915 and 1.3860 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 March 4, 2021
Sell near the resistance zones 1.4000 and 1.4055 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.