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 shared currency pair is receiving a lot of influence from the EUR/USD fall on the chart as well as from the latest retail data releases in the United States.
GBP/USD exchange rate is trying to shake off the 1.1250 level
I believe that at the end of the trading week the GBP/USD exchange rate is now lower than ever and it is currently under a lot of selling steam after the 100-SMA support came close to 1.2602 and the 1.2570 is the new low camping spot for the currency pair.
I also think that the US dollar demand is going to skyrocket at the beginning of the next trading week so you need to measure your buying and selling actions very carefully.
The bid of the USD will definitely continue to grow exponentially especially in the European Union trading session beginning early on Monday.
Why I think GBP/USD is one of the best currencies to trade right now
The EUR/USD shared currency pair is already struggling with jumping over the 1.1300 level and it became even harder to do this because of the negative data released
in France and in Germany.
Back in the United Kingdom Theresa May has announced that it is going to deploy all efforts in seeing the GBP flourish once again.
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 = 1.2650
Lowest level = 1.2435
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 -0.5% and it is trading in the close vicinity of the 1.1260 level and it is relying heavily on the 1.2756 followed close up by the 1.2699 and lastly ending with the 1.2800 point.
On the other side of the table there are several solid levels beginning with 1.2589 and ending with the 1.2497.
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