GBP USD Technical Analysis 7 September 2020
GBP USD Technical Analysis: The GBP declined 0.03% against the USD on Friday and closed at 1.3276. Today in the Asian session, while GBP USD technical Analysis 7 September 2020 at 4:45 GMT, the GBP/USD is trading at 1.3239, which is 0.28% lower against the USD from yesterday’s close.
The pair is expected to find support at 1.3180 and a fall through could take it to the next support level of 1.3115 The pair is expected to find its first resistance at 1.3315 and a rise through could take it to the next resistance level of 1.3340. Today’s expected trading range is between 1.3055, support and 1.3355 resistance.
The expected trend for today is Bearish
Important support levels:
Support 1: 1.3180
Support 2: 1.3115
Support 3: 1.3055
Important resistance levels:
Resistance 1: 1.3315
Resistance 2: 1.3340
Resistance 3: 1.3355
GBP/USD buying opportunity for intraday trading on September 7, 2020
Buy near the support zones 1.3180 and 1.3115 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 September 7, 2020
Sell near the resistance zones 1.3315 and 1.3340 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.