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 trading downwards by a huge negative value and at the bottom of this stands the weak UK data as well as the high demand for the USD which is receiving strong influence from the Fed policy updates.
GBP/USD currency pair is trading very low and it’s not showing any signs of stopping
Today I have noticed that the GBP/USD shared currency pair has managed to go under the 1.3000 level with great ease and behind this movements stands the recent low data releases from the UK macro data. In the meantime investors have already forgotten about the fact that the United Kingdom is ready to make a deal on the Irish border to get a marvelous Brexit deal, but so far the currency pair did not budge on the trading chart as it is still continued falling under the 1.3100 point.
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.
Are you looking for the best trading charts?
TradingView offers an advanced charting and analysis platform with hundreds of drawings and indicators. You can compare stocks, predict where the price will go and publish ideas.
Why I think GBP/USD is one of the best currencies to trade right now
Across the ocean in the United States there is huge USD demand.
I believe that the downward movement began to catch speed towards the 1.1280 level just as the UK PMI data in the construction sector fell to 52.1 for the previous month and it has missed the lowest predictions of 52.5.
I think that in the United States Mr. J. Powell will hold a speech about the Fed policy updates but I also think that there will be several Brexit-related headlines which will add to the volatility level for the GBP single pair.
Today I advise you to use the BUY 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 currency pair
Highest level = 1.342
Lowest level = 1.2944
Volatility level = Extremely High
Today’s Forex predictions
Here is my GBP/USD forecast for tomorrow
Sell 10 %
Buy 90 %
S3 = 1.3012 S2= 1.3041 S1 = 1.3023
R1 = 1.2957 R2 = 1.2934 R3 = 1.2942
GBP/USD significant trading levels
For the time being the GBP/USD currency pair is going downwards by a negative value of -0.77% and it is currently trading in the proximity of the 1.2930 level and I believe that it is quickly going to set up camp in the close vicinity of the 1.2900 level.
On the other side of the table by jumping over the 1.3000 level this will clear the trading path towards the 1.3035 level at first followed close up by the 1.3100 high point.
We value your opinion very much so please let us know how you feel about our predictions? Follow us and become a better trader!
Are you in need of a good forex broker?
Are you in need of a good Forex broker? Do you need investment advice? We have all the solutions to all your problems! Our professionals recommend you open an account with these brokers: AAAfx or Zulutrade. Both are amazing in customer care service and offer a robust and productive trading experience. Increase your capital today!