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 exchange rate 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 exchange rate is relying on some support from the labor data release and so far it has managed to reach the 1.2900 point, Brexit is still a strong influence driver.
GBP/USD exchange rate is receiving strong influence from Brexit
I have noticed that the GBP/USD shared currency pair has managed to pick up the trading pace and it is currently gaining a lot of solid trading ground. This event became real after the publication of the monthly report on the UK labor market.
I have noticed that the release of the Claimant Count Change went upwards by 20.8K for the last month of 2018, at the same time the release of the jobless data went downwards by a negative value of -4.0% for the same period of the year.
Why I think GBP/USD is one of the best currencies to trade right now
I believe that the Brexit news headlines are still keeping the exchange rate on a thin wire and it is now directly influencing British Pound.
I think that Theresa May will have “Plan B” released at the beginning of the next trading week and investors will keep a close eye on this development especially on the possibility of issuing an extension of the Article 50.
I am confident that UK politicians are speculating the possibility of a second referendum but the Parliament will have to decide on this course of action, one this is clear January 29 is going to be a very important date for the GBP/USD exchange rate.
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 = 1.2910
Lowest level = 1.2670
Volatility level = Extremely High
Today’s Forex predictions
Here is my GBP/USD forecast for tomorrow
Sell 80 %
Buy 20 %
S3 = 1.2922 S2= 1.2951 S1 = 1.2973
R1 = 1.2967 R2 = 1.2924 R3 = 1.2932
GBP/USD significant trading levels
For the time being the GBP/USD currency pair is going downwards by a negative value of -0.5% and it is trading in the close vicinity of the 1.2901 level and it is going to rely heavily on the 1.3000 level followed close up by the 1.3072 point and lastly ending with 1.3087 level.
On the other side of the medal I believe that by jumping over the 1.2830 level this will definitely clear the trading path towards the 1.2779 point at first followed close up by the 1.2766 point.