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 currency pair today
According to FxEmpire.com today the GBP/USD shared currency pair is trading in the close vicinity of the 1.3200 level and it is showing strong signs of moving upwards towards the 1.3250 level.
GBP/USD currency pair is receiving a lot of influence from Brexit negotiations
I believe that today the buying interest of GBP will continue to stay very high and it will continue to behave in this manner until the end of the trading week which is a solid reason for the trading cross to push higher and higher towards the 1.3250 level towards the end of the trading session.
I also think that the 1.3300 level will quickly become a camping spot for the currency pair and at the bottom of this stands the releases of the Retail Sales data in the United Kingdom which has managed to go upwards by a positive value of +0.3% on a monthly basis and by a positive value of +3.5% on a year to year basis.
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
On top of this the Core data also went upwards by a positive value of +0.4%compared to last month and by +3.5% on a yearly basis and I believe that this will turn out to be a huge market driver.
In the middle of these data releases I think that the trading pace will continue to stay volatile the ongoing Brexit negotiations will have a strong influence on the price action.
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 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 = 1.3355
Lowest level = 1.3210
Volatility level = Extremely High
Today’s Forex predictions
Here is my GBP/USD forecast for tomorrow
Sell 100 %
Buy 0 %
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 going upwards by a high value of +0.39% and it is trading in the close vicinity of the 1.3194 level therefore by jumping over the 1.3295 level I believe that this will clear the trading path towards the 1.3364 level at first followed close up by the 1.3521 point.
On the other side of the table there are several solid point beginning with the 1.3085 level followed close up by the 1.2992 level and lastly ending with the 1.2785 point.
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