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 currency pair is trading in the close vicinity of the 1.3120 level and it is already showing serious signs of trading upwards close to the 1.3150 and at the bottom of this stands the recent Brexit news.
GBP/USD currency pair is receiving a lot of influence from the Brexit headlines
I believe that today the GBP/USD will be trading for a while in the proximity of the 1.3140 and 1.3155 levels with very few variations and the trading process will be very flexible. I also think that the currency pair has managed to recover beautifully from the Brexit negative influence which managed to drive the trading cross under the 1.3000 psychological point. For now it looks that the GBP/USD is off to a steady trading week.
In the meantime across the ocean the United States treasury figures have managed to offer some positive influence for the overall trading process mostly because it has caused a lot of positive traction to appear.
Live market charts
The chart is showing directions of today’s recommended currency pair. The GBP/USD chart for today shows it is in an down position. Personally, I am using the ADX indicator to find good entry points on a 15 minute timeframe.
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Why I think GBP/USD is one of the best currencies to trade right now
Wednesday will be huge day for the GBP/USD pair because the FOMC data will be coming out into the open and all predictions have been issued, I think that this event will definitely be a big market driver therefore I advise a lot of caution for those trading this currency pair.
Back on the old continent in the European Union M Roth has recently stated that Brexit deal will be possible as close as November.
Today I advise you to use the SELL action with moderation!
Let us know how you feel about the fact that Brexit will be happening in November? Do you think that negotiations will pick up? Let us know how you feel about this? 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 = 1.3350
Lowest level = 1.32090
Volatility level = High
Today’s Forex predictions
Here is my GBP/USD forecast for tomorrow
Sell 65 %
Buy 35 %
S3 = 1.3322 S2= 1.3371 S1 = 1.3383
R1 = 1.2917 R2 = 1.2954 R3 = 1.2982
GBP/USD significant trading levels
For the time being the GBP/USD currency pair is going upwards by a positive value of +0.35% and it is trading in the proximity of the 1.3140 level and I believe that by jumping over the 1.3200 level this will clear the trading path towards the 1.3350 point.
On the other side of the medal there are several solid points beginning with the 1.3050 support level and followed close up by the 1.3000 point.
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