Are you searching for a strong currency which is racing upwards on the trading chart? Guess what? Now you can make some great Pips on the GBP USD currency pair and begin your journey as a successful trader!
Here I will share what I believe about the GBP/USD movement on the trading chart today. I will explain in details why this is going to happen and how can it be in your advantage.
|Factors that might affect this pair today
According to FxEmpire.com today the GBP/USD shared currency pair is going downwards in the proximity of the 1.3150 level and at the bottom of this stands the recent EU summit as well as the weak Brexit negotiations which so far did not manage to shed any light whatsoever on the future decisions in the UK.
GBP/USD currency pair is waiting for updates from Brexit
I have noticed that the GBP/USD currency pair has managed to recover a lot of trading ground since the beginning of the United States trading session and so far it has managed to go upwards in the vicinity of the 1.3138 level. I expect that in the near future the pair will go as low as 1.3080 mostly because of the inflation figures in the United Kingdom.
For now at least the trading cross will continue to hover over the 1.3130 level for a while and it will definitely enhance the low levels of this trading session and I believe that a recovery is underway because of the USD lost some speed on the market.
Why I think GBP/USD is one of the best currencies to trade right now
The USD is currently influenced by the early releases of the housing figures which also had some influence on the US DXY index.
All trading eyes will continue to stay focused on the US FOMC minutes.
I have noticed that on the old continent the EU summit is having a lot of discussions about the Brexit negotiations.
I have noticed that most comments from UK and EU officials did not have any influence whatsoever on trading process.
Live market charts
We want Forex to be all about profitable trading! Forex and Profits makes sure you have the latest live market charts available every day. I am using the ADX indicator as well as Bollinger bands with Moving Average and Stochastic Oscillator for the this currency pair. Only open new trades when all these indicators show a clear trend.
The chart is showing directions of today’s recommended currency pair. The chart for today shows it is in a clear bearish trend for the last few hours. Personally, I am using the ADX indicator to find good entry points on a 15 minute timeframe.
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Today I advise you to use the SELL action as much as possible!
Let us know how you feel about the fact that the US is directly having a negative effect on the international political tensions? Let us know how you feel about the unending Brexit negotiations? Even if you are a novice trader we would still like to know your opinion!
Forex and Profits presents Today’s Free Forex Signal
A summary of Highs and Lows for the GBP/USD
Highest level = 1.3192
Lowest level = 1.3098
Volatility level = Expanding
Today’s Forex predictions
Here is my GBP/USD forecast for tomorrow
Sell 70 %
Buy 30 %
S3 = 1.3022 S2= 1.3051 S1 = 1.3073
R1 = 1.3067 R2 = 1.3024 R3 = 1.3032
GBP/USD significant trading levels
For the time being the GBP/USD shared currency pair is trading downwards by a negative value of -0.37% and it is trading in the vicinity of the 1.3120 and it is relying on the 1.3140 level continuing with the 1.3170 point and lastly ending with 1.3195 point.
On the other side of the medal there are several solid levels beginning with the 1.3115 level followed close up by the 1.3095 point and lastly ending with 1.3080 point.
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