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GBP USD Technical Analysis Aug 8, 2019

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GBP USD Technical Analysis Aug 8, 2019

GBP USD Technical Analysis: The GBP rose 0.19% against the USD on Wednesday and closed at 1.2143. Today in the Europen session while preparing GBP USD technical Analysis Aug 8, 2019 at 7:15 GMT, the GBP/USD is trading at 1.2163, which is 0.16% higher against the USD from yesterday’s close.

The pair is expected to find support at 1.2112 and a fall through could take it to the next support level of 1.2080. The pair is expected to find its first resistance at 1.2120, and a rise through could take it to the next resistance level of 1.2220. For today the expected trading range is between 1.2042, Support and 1.2250 Resistance.

The expected trend for today is Bearish

Supports Levels: Support 1: 1.2112, Support 2: 1.2080, Support 3: 1.2042
Resistance Levels: Resistance 1: 1.2120, Resistance 2: 1.2220, Resistance 3: 1.2250

GBP/USD Buying Opportunity for Intraday Trading Aug 8, 2019

Buy near the support area 1.2112 and 1.2080 as soon as you get reversal candlesticks using stop loss 2 pips below the low of reversal candlestick & keep target equal to stop loss.

GBP/USD Selling Opportunity for Intraday Trading Aug 8, 2019

Sell near the resistance area 1.2120 and 1.2220 as soon as you get reversal candlesticks patterns using stop loss 2 pips above the high of reversal candlestick & keep target equal to stop loss.

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