exchange rate

GBP/USD exchange rate is opening the trading year on a volatile note

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

  • The GBP/USD selling pressure is helping overpass the 21-month low streak.
  • The GBP/USD exchange rate is receiving a lot of influence from the release of the US ADP report.
  • The ongoing Brexit negotiations are generating plenty of uncertainties.

According to today the GBP/USD shared currency pair is now trading in the close vicinity of the 1.2600 level and it is deploying a lot of effort in maintaining this position as strong as possible.

exchange rate

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GBP/USD exchange rate is going to face a lot of pressure in 2019

I believe that the GBP/USD currency pair is travelling down a very bumpy road mostly because the UK Parliament has announced that the Brexit negotiations are going to be finalized in 2019, this obviously is going to keep investors at bay as far away from any significant movements.

The beginning of the trading year has shown some major improvements only in the Asian trading session where more than 200 pips have been recovered and the trading cross has reacted promptly towards the 1.2600 level.

At the same time across the ocean in the United States the USD did not manage to attract any support whatsoever from the global markets and the US DXY index has posted a value close to 96.00.

Why I think GBP/USD is one of the best currencies to trade right now

I believe that if there will be no positive data on the table really soon, we are quickly going to see the 1.2400 level up and running before January ends.

I have noticed that the release of the ADP data in the United States private sector has increased in volume by a 271000 new jobs for the previous month.

Back on the old continent the European Union trading Commission has once again underlined the need for a fast Brexit deal because it is destabilizing the entire EU economic community.

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 = 1.2610

Lowest level = 1.2540

Volatility level = Expanding

Sell is the main action for GBP/USD exchange rate

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 1.1590 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 1.2579 and ending with the 1.2487.

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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