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GBP USD Technical Analysis November 7, 2018

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GBP USD Technical Analysis November 7, 2018

The GBP declined 1.19% against the USD on Tuesday and closed at 1.2968. Today in the Europen session while preparing GBP USD technical analysis November 7, 2018 at 8:15 GMT, the GBP/USD is trading at 1.3010, which is 0.32% higher against the USD from yesterday’s close.

The pair is expected to find support at 1.3043, and a fall through could take it to the next support level of 1.2988 The pair is expected to find its first resistance at 1.3161, and a rise through could take it to the next resistance level of 1.3215. For today the expected trading range is between 1.3043, Support and 1.3161 Resistance.

The expected trend for today is Bullish

Supports Levels: Support 1: 1.3043 Support 2: 1.2988 Support 3: 1.2957
Resistance Levels: Resistance 1: 1.3129 Resistance 2: 1.3161 Resistance 3: 1.3215

GBP/USD Buying Opportunity for Intraday Trading November 7, 2018

Buy near the support area 1.2932 and 1.2897 as soon as you get reversal candlesticks using stop loss 4 pips below the reversal candlestick & keep target equal to stop loss.

GBP/USD Selling Opportunity for Intraday Trading November 7, 2018

Sell near the resistance area 1.3161 and 1.3215 as soon as you get reversal candlesticks patterns using stop loss 4 pips above the reversal candlestick & keep target equal to stop loss.

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