GBP/USD Signals Update
Last Thursday’s signals expired without being triggered as none of the key levels were reached.
Today’s GBP/USD Signals
Risk 0.75% per trade.
Trades may only 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 entry into the zone between 1.5544 and 1.5535.
Put 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 1.5690 and leave the remainder of the position to run.
Long Trade 1
Go long following a bullish price action reversal on the H1 time frame immediately upon the next touch of 1.5413.
Place the stop loss 1 pip below the local swing low.
Move 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 1.5525 and leave the remainder of the position to run.
Short Trade 1
Go short following a bearish price action reversal on the H1 time frame immediately upon the next touch of 1.5803.
Place the stop loss 1 pip above the local swing high.
Move 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 1.5710 and leave the remainder of the position to run.
GBP/USD Analysis
Despite the huge moves in the Euro, this pair remains quiet and very consolidative, showing no sign of really being ready to break up properly past 1.5700. However there is what should be a good, strong supportive confluence just below 1.5550.
It is a turbulent market in general but this seems to be an oasis of calm, offering small but relatively predictable trades off reversals from support and resistance.
There is nothing due today concerning either the GBP or the USD.