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 is going upwards by a small high value against the USD at the end of the trading week but it will continue to build up steam and the volatility levels.
GBP/USD currency pair is reacting to failed Brexit negotiations
I have recently noticed that the United States trading session has managed to lift the trading cross upwards close to the 1.3020 level therefore touching a new daily high point, but after reaching this spot pulled back quickly and it has established some solid support around the 1.3020 level.
I also think that this recovery will be very limited because the GBP/USD trading cross is still far away from the 1.3180 point.
This sudden shift has in turn changed the movement of the GBP/USD which will wobble between the 1.3080 and the 1.3000 levels.
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 is one of the best currencies to trade right now
I have noticed that there is still a lot of pressure building up regarding Brexit negotiations and because of this friction the pound will lost stability today and at the beginning of the next week trading session.
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 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 = 1.3061
Lowest level = 1.3012
Volatility level = Expanding
Today’s Forex predictions
Here is my GBP/USD forecast for tomorrow
Sell 70 %
Buy 30 %
S3 = 1.3022 S2= 1.3051 S1 = 1.3073
R1 = 1.3067 R2 = 1.3024 R3 = 1.3032
GBP/USD significant trading levels
For the time being the GBP/USD shared currency pair is trading downwards by a negative value of -0.2% and it is trading in the vicinity of the 1.3043 and it is relying on the 1.3040 level continuing with the 1.3070 point and lastly ending with 1.3095 point.
On the other side of the medal there are several solid levels beginning with the 1.3120 level followed close up by the 1.3195 point and lastly ending with 1.3010 point.
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