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.
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|Factors that might affect this pair today
According to Fxempire.com today the GBP/USD shared currency pair is extremely volatile and with the ending of the Brexit vote and with the result of a huge “no” has managed to turn the cable into the hottest currency pair with the most violent of spikes on the chart.
GBP/USD exchange rate highly influenced by the Parliament vote
I have noticed today that the Parliament has voted a big no on the Theresa May’s Brexit and this has ignited a tidal wave of buying pressure across the trading chart and the US DXY index has also reacted to the GBP/USD movement around the 1.2810 trading zone.
I also believe that the GBP/USD currency pair will continue to fall in the vicinity of the 1.2810 level and it is a long way from the opening of the trading session which has been close to 1.2930.
Why I think GBP/USD is one of the best currencies to trade right now
At this point everyone is keeping a close eye on the United Kingdom Parliament and the uncertainty around the GBP/USD exchange rate is growing higher and higher with each passing second.
I also expect to see some out of the ordinary volatility values for the GBP currency.
In other news I have noticed that the UK PM Theresa May is now under pressure to step down from the cabinet as the no confidence vote is now reality.
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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 100 %
Buy 0 %
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 exchange rate is going downwards by a big negative value of -0.27% and it is trading in the close vicinity of the 1.2739 level therefore by breaching the 1.2819 level this will definitely clear the trading path towards the 1.2774 point at first followed close after by the 1.2699 point.
On the other side of the medal there are several solid levels beginning with 1.2930 continuing with 1.3072 and ending with the 1.3119 high level.
We value your opinion very much so please let us know how you feel about our predictions? Follow us and become a better trader!
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