GBP/USD Signals Update
Yesterday’s signals expired without being triggered.
Today’s GBP/USD Signals
Risk 0.75% per trade.
Trades must be made before 5pm London time today.
Long Trade 1
• Go long following a bullish price action reversal on the H1 time frame immediately upon the next touch of 1.5603.
• Place the stop loss 1 pip below the local swing low.
• Adjust the stop loss to break even once the trade is 25 pips in profit.
• Remove 50% of the position as profit when the price reaches 1.5740 and leave the remainder of the position to ride.
Long Trade 2
• Go long following a bullish price action reversal on the H1 time frame immediately upon the next touch of 1.5522.
• Place the stop loss 1 pip below the local swing low.
• Adjust the stop loss to break even once the trade is 25 pips in profit.
• Remove 50% of the position as profit when the price reaches 1.5740 and leave the remainder of the position to ride.
Short Trade 1
• Go short following a bearish price action reversal on the H1 time frame immediately upon the next touch of 1.5853.
• 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.
• Remove 50% of the position as profit when the price reaches 1.5615 and leave the remainder of the position to ride.
GBP/USD Analysis
Yesterday was a fairly quiet day, with the USD strengthening somewhat. We seem to be approaching crucial support which could give a good opportunity for a long trade soon if there is a bullish bounce there.
There are high-impact news releases scheduled today concerning both the USD and the GBP. Concerning the GBP, there will be a release of CPI data at 9:30am London time. Regarding the USD, there will be a release later of U.S. Building Permits data at 1:30pm.