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GBP USD Technical Analysis 5 January 2021

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GBP USD Technical Analysis 5 January 2021

GBP USD Technical Analysis: The GBP declined 0.60% against the USD on Monday and closed at 1.3568. Today in the Asian session, while GBP USD technical Analysis 28 December 2020 at 4:45 GMT, the GBP/USD is trading at 1.3584, which is 0.12% higher against the USD from yesterday’s close.

The pair is expected to find support at 1.3510 and a fall through could take it to the next support level of 1.3435 The pair is expected to find its first resistance at 1.3610 and a rise through could take it to the next resistance level of 1.3665. Today’s expected trading range is between 1.3434, support and 1.3700 resistance.

The expected trend for today is Bullish

Important support levels:

Support 1: 1.3510
Support 2: 1.3435
Support 3: 1.3400

Important resistance levels:

Resistance 1: 1.3610
Resistance 2: 1.3665
Resistance 3: 1.3700

GBP/USD buying opportunity for intraday trading on January 5, 2021

Buy near the support zones 1.3510 and 1.3435 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 January 5, 2021

Sell near the resistance zones 1.3610 and 1.3665 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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