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 closing the week in the vicinity of the 1.2660 level and it is receiving weak influence from the UK data releases and somewhat positive vibes from the USD dynamics.
GBP/USD exchange rate is going lower and lower
I have noticed that at the end of the trading week the GBP/USD exchange rate is lower than mid November and the beginning of the next week will be marked by a slow debut with spikes along the way.
I am also confident that we are going to see this weak behavior manifest itself until the Brexit negotiations will finally end and until that happens we are definitely going to see plenty of volatile sparks across the trading chart.
I have also noticed that the USD dynamics are providing solid influence but it is losing grounds when the UK GDP data comes out into the open.
Why I think GBP/USD is one of the best currencies to trade right now
At the same time the European Union data releases are offering no solid data for the GBP/USD exchange rate and we will be watching the 1.2667 level for a while.
For the next week the GBP/USD currency pair will jump back and forth between the 1.2645 and 1.2650 points due to the US Treasury Secretary speech about the evolution of the US DXY index.
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 90 %
Buy 10 %
S3 = 1.2722 S2= 1.2751 S1 = 1.2773
R1 = 1.2767 R2 = 1.2724 R3 = 1.2632
GBP/USD significant trading levels
For the time being the GBP/USD exchange rate is going downwards by a negative value of -0.31% and it is trading in the close vicinity of the 1.1245 level and it is relying heavily on the 1.2760 followed close up by the 1.2689 and lastly ending with the 1.2800 point.
On the other side of the table there are several solid levels beginning with 1.2599 and ending with the 1.2477.
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