Are you searching for astrong currency which is racing upwards on the trading chart? Guess what? Nowyou can make some great Pips on the GBP USD exchange rate and begin yourjourney as a successful trader!
Here I will share what Ibelieve about the GBP/USD movement on the trading chart today. I will explainin details why this is going to happen and how can it be in your advantage.
Factors that might affect this pair today
• GBP/USD exchange rate is still receiving a lot of influence from the Brexit
and it is having a significant negative impact on the GBP.
• The USD movement is still very shallow and it is bringing little influence.
• The release of the monthly jobs United States is showing signs of improvement.
According to FxEmpire.com today the GBP/USD is trading in the close vicinity of the 1.2690 level and it is going to deploy a lot of effort in jumping past the 1.2700 point, hopefully until the trading week comes to an end.
GBP/USD exchange rate is getting strong influence from the British Government
I have noticed that there are many rumors surrounding the UK Cabinet which has already raised the discussions of organizing a second referendum for a softer Brexit but it will all come down the Parliament for a solid decision.
Unfortunately while this pressure unfolds the British Pound is becoming weaker and weaker and the PM Theresa May is right in the middle of these negotiations which have been scheduled to take place on the 11th of December.
Why I think GBP/USD is one of the best currencies to trade right now
I believe that we are not going to see any signs of the 1.2800 level whatsoever.
I have also noticed that today there are not any significant economic data releases coming from the United Kingdom and we can still see plenty of data coming in from the Brexit negotiations.
Across the ocean in the United States all eyes are fixed on the United Kingdom departure from the European Union.
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 = 1.2850
Lowest level = 1.2735
Volatility level = Expanding
Today’s Forex predictions
Here is my GBP/USD forecast for tomorrow
Sell 85 %
Buy 15 %
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 theGBP/USD exshared currency pair is going downwards by a negative value of -0.39%and it is trading in the close vicinity of the 1.2740 level and it s lookingfor support in the proximity of the 1.2725 point at first followed close up bythe 1.2700 level and lastly ending with the 1.2660 point.
On the other side of themedal there are several solid points beginning with the 1.2790 level and endingwith the 1.2840 point.
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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