Are you searching for a strong currency pair which is racing upwards on the trading chart? Guess what? Now you can make some great Pips on the GBP USD 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 currency today
According to FxEmpire.com today the GBP/USD has started the trading session rather good but after the UK Prime Minister T. May issued some commentary the GBP has lost all of its momentum and started falling with plenty of speed down by a total value of -1,50%.
GBP/USD currency pair has fallen under the 1.3100 level
I believe that today the GBP/USD has lost a huge value almost over 1.50% in the current trading day. This event happened just as the currency pair has managed to touch the 1.3300 trading level at the beginning of the trading session and the fresh news about the problems of the Brexit deal is stands as the main influencer.
Hopes have also left the trading process as the UK PM Theresa May declared that Brexit could end with failed negotiations.
Live market charts
The chart is showing directions of today’s recommended currency pair. The EUR/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
Theresa May also declared that both parties from the UK Parliament are now in a huge stand still and with this action the pressure around the currency pair is going to build up very fast because the referendum result is unacceptable.
I also believe that the GBP/USD is going to continue falling and it will eventually find a solid base around the 1.3090 level after reaching in the same trading day the 1.3300 which is absolutely amazing. I advise to use caution as much as possible when placing any action on the trading chart.
Today I advise you to use the SELL action with moderation!
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 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 = 1.3320
Lowest level = 1.32090
Volatility level = Extremely High
Today’s Forex predictions
Here is my GBP/USD forecast for tomorrow
Sell 70 %
Buy 30 %
S3 = 1.3312 S2= 1.3361 S1 = 1.3393
R1 = 1.2927 R2 = 1.2964 R3 = 1.2992
GBP/USD significant trading levels
For the time being the GBP/USD shared currency pair is going downwards by a negative value of -1.45% and it is trading in the proximity of the 1.3087 level and it is going to rely heavily on the 1.3009 level at first followed close up by the 1.2785 point and lastly with the 1.2662 point.
On the other side of the medal I believe that by jumping over the 1.3299 level this will clear the trading path towards the 1.3364 level at first followed close up by the 1.3520 trading point.
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