Start Trading Now Get Started
Table of Contents
Affiliate Disclosure
Affiliate Disclosure DailyForex.com adheres to strict guidelines to preserve editorial integrity to help you make decisions with confidence. Some of the reviews and content we feature on this site are supported by affiliate partnerships from which this website may receive money. This may impact how, where and which companies / services we review and write about. Our team of experts work to continually re-evaluate the reviews and information we provide on all the top Forex / CFD brokerages featured here. Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering. Safety is evaluated by quality and length of the broker's track record, plus the scope of regulatory standing. Major factors in determining the quality of a broker’s offer include the cost of trading, the range of instruments available to trade, and general ease of use regarding execution and market information.

GBP/USD Forex Signal - 14 April 2015

By Adam Lemon

Adam Lemon began his role at DailyForex in 2013 when he was brought in as an in-house Chief Analyst. Adam trades Forex, stocks and other instruments in his own account. Adam believes that it is very possible for retail traders/investors to secure a positive return over time provided they limit their risks, follow trends, and persevere through short-term losing streaks – provided only reputable brokerages are used. He has previously worked within financial markets over a 12-year period, including 6 years with Merrill Lynch.

GBP/USD Signals Update

Yesterday’s signal was not triggered as the price did not reach 1.4683 during the London session.

Today’s GBP/USD Signals

Risk 0.75% per trade.

Trades must be entered between 8am and 5pm London time today only.

 

Short Trade 1

  • Short entry following a bearish price action reversal on the H1 time frame immediately upon the next touch of 1.4690.

  • Place the stop loss 1 pip above the local swing high.

  • Adjust the stop loss to break even once the trade is 25 pips in profit.

  • Take off 50% of the position as profit when the price reaches 1.4625 and leave the remainder of the position to run.

GBP/USD Analysis

Yesterday I identified the only key level in existence anywhere remotely nearby as sitting at 1.4683 and this has in fact acted as resistance, but it happened overnight during the Asian session and not during the London session which my signals for this pair are always restricted to.

I have moved the level up to 1.4690 which is nicely close to a confluent whole number at 1.4700 as the action has been weak in advance of the major news expected from both sides of the pair today. Therefore I see another bearish reversal off this area as a good potential catalyst today for a short trade. Be careful of the news.

There is minor support at 1.4625.

GBPUSD 41415

There will be a release of U.K. CPI data at 9:30am London time. Regarding the USD, at 1:30pm there will be releases of Retail Sales and PPI data. Therefore it should be an active day for this pair today.

Adam Lemon
About Adam Lemon

Adam Lemon began his role at DailyForex in 2013 when he was brought in as an in-house Chief Analyst. Adam trades Forex, stocks and other instruments in his own account. Adam believes that it is very possible for retail traders/investors to secure a positive return over time provided they limit their risks, follow trends, and persevere through short-term losing streaks – provided only reputable brokerages are used. He has previously worked within financial markets over a 12-year period, including 6 years with Merrill Lynch.

 

Most Visited Forex Broker Reviews