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 deploying a lot of effort in jumping past the 1.2650 level but so far it has managed to face a very large amount of resistance and it will continue to trade in this current range of levels.
GBP/USD exchange rate is keeping the trading week tied to 1.2640
I believe that the GBP/USD currency pair has managed to reach the 1.2670 level earlier today but the entire week is going to be marked by the low level of 1.2640 point and it is also receiving influence from a weaker USD.
Many investors have already began to limit their investments when it comes to buying GBP/USD and on top of this the never ending Brexit negotiations continues to pull down the GBP and the entire UK economy.
Towards the end of the week I feel confident that the London data will offer some fresh air but unfortunately won’t be enough to ease the massive stress that is pressing on it.
Why I think GBP/USD is one of the best currencies to trade right now
On Friday the GBP/USD exchange rate is going to have another tough time because the UK Prime Minister Theresa May will announce some political decisions and Govern movements for January and the House of Commons will definitely have a word to say about these measures.
More data will also be coming in from the Labor party which has already announced another “nay” vote for Theresa May in January.
At the same time across the ocean in the United States the releases of the retail sales figures have turned out to be better than most expected and the USD movement is going to pick up pace.
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 = 1.2670
Lowest level = 1.2430
Volatility level = Expanding
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 negative value of -0.2% and it is trading in the close vicinity of the 1.1240 level and it is relying heavily on the 1.2736 followed close up by the 1.2679 and lastly ending with the 1.2700 point.
On the other side of the table there are several solid levels beginning with 1.2559 and ending with the 1.2467.
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