GBP/USD Signals Update
Yesterday’s signals were not triggered and expired
Today’s GBP/USD Signals
Risk 0.75%
Trades may only be made between 8am and 5pm London time.
Short Trade 1
Short entry following bearish price action on the H1 time frame immediately following the next touch of 1.5720.
Place the stop loss 1 pip above the local swing high.
Move the stop loss to break even once the trade is 20 pips in profit.
Take off 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to run.
Short Trade 2
Short entry following bearish price action on the H1 time frame immediately following the next touch of 1.5789.
Place the stop loss 1 pip above the local swing high.
Move the stop loss to break even once the trade is 20 pips in profit.
Take off 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to run.
Long Trade 1
Long entry following bullish price action on the H1 time frame immediately following the next touch of 1.5591.
Place the stop loss 1 pip below the local swing low.
Move the stop loss to break even once the trade is 20 pips in profit.
Take off 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to run.
GBP/USD Analysis
This pair seemed to be the object of most speculators among the major pairs during yesterday’s London session, as there was a fairly steady rise after the low made shortly after London opened. The price rose fairly close to the range resistance, but the resistant area was not really touched. Therefore the technical picture really has not changed: the pair remains within a multi-day range between 1.5720 and 1.5591.
There are high-impact data releases scheduled today that are likely to directly affect both the GBP and the USD. Regarding the GBP, there will be Inflation Report Hearings at 10am London time. Regarding the USD, at 1:30pm there will be a release of Preliminary GDP data, followed later at 3pm by CB Consumer Confidence.