Are you searching for a strong currency which is racing 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!
I will share what I believe to be the GBP/USD movement on the trading chart today. I will explain in detail why this is going to happen.
- The UK Brexit negotiator Michael Barnier has managed to lift the spirit of the British Pound.
- The release of NFP data has managed to offer some helping hand for the USD.
According to FxEmpire.com today the GBP/USD currency pair is trading upwards today close to the 1.1300 level and at the base of this movements stands the most recent commentaries issued by UK Brexit negotiator who has offered a positive tone.
GBP/USD currency pair has managed to climb 30 pips
I believe that for now at lest the UK British Pound is reacting to the Brexit negotiations with the EU and discussions have already been opened on Irish border problems and so far it seems that the UK will be taking no action whatsoever. In the meantime the trading cross will continue to hover around the 1.3010 level with some variations around the 1.1340 trading area. I also believe that the release of the monthly jobs data in the United States has also managed to bring some speed to the USD and it will ease off some pressure in the US New York trading session. The release of NFP figures has increased over 201K brand new jobs for the previous month surpassing the 157K estimated value.
I believe that even with this solid data release the unemployment rates are still higher than +3.6% and I think that the US Fed will have to bring this out as soft as possible.
Today I recommend using the BUY action as much as possible.
Let us know how do you feel about the data released earlier today in the UK? Will the GBP/USD continue to gain ground?
A summary of Highs and Lows for the GBP/USD currency pair
Highest level = 1.3028
Lowest level = 1.2938
Volatility = Increasing
Today’s Forex forecast – We advise you to:
- Sell 30%
- Buy 70%
S3 = 1.2720 S2= 1.2760 S1 = 1.2806
R1 = 1.2833 R2 = 1.2946 R3 = 1.2933
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GBP/USD significant trading levels
Today the GBP/USD currency pair is going upwards by a positive value of +0.4% and it is trading in the close vicinity of the 1.2955 and it is relying heavily on the 1.2950 level at first followed close up by the 1.2900 point.
On the other side of the table jumping past the 1.3010 level this will open the trading path towards the 1.3038 level at first followed close up by the 1.3100 point and lastly ending with the 1.3130 zone.
We value your opinion very much let us know how you feel about our predictions?