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 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 higher than yesterday in the close vicinity of the 1.1300 level and it reacting to positive news about the Brexit negotiations which is now close to ending and the UK will remove itself from the European Union,
GBP/USD currency pair is highly influenced by the Brexit negotiations
I believe that today the GBP/USD currency pair will be trading in a positive direction mostly because of the large amount of positive vines coming in from the Brexit deal therefore the trading cross will set up camp in the proximity of the 1.3000 level and to a certain extent I think that it is highly possible to see the 1.1340 level up and running on the trading chart.
I also believe that there will be a strong bullish sentiment across the trading chart which will eventually manage to uphold a very dominant position therefore any aggressive bets will be off.
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.
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Why I think GBP/USD currency pair is one of the best currencies to trade right now
On top of this across the ocean in the United States there is huge USD demand and everyone is patiently waiting for the release of the NFP report which will guide the trading process forward.
I have also noticed that the USD will continue to stay on a positive trading tone and the US DXY index is almost the same to yesterday’s values.
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
Highest level = 1.1342
Lowest level = 1.2974
Volatility level = Extremely High
Today’s Forex predictions
Here is my GBP/USD forecast for tomorrow
Sell 10 %
Buy 90 %
S3 = 1.3022 S2= 1.3051 S1 = 1.3073
R1 = 1.2967 R2 = 1.2924 R3 = 1.2932
GBP/USD significant trading levels
For the time being the GBP/USD currency par is going upwards by a small yet positive value of +0.02% and it is trading in the proximity of the 1.3100 level.
On the other side of the table I believe that by jumping over the 1.3000 level this will open the trading path towards the 1.2935 level at first followed close up by the 1.2910 support point.
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