GBP/USD Signals Update
Last Thursday’s signals expired without being triggered as the price did not reach 1.5154 until after London closed.
Today’s GBP/USD Signals
Risk 0.75% per trade.
Trades must be taken before 5pm London time today only.
Long Trade 1
* Long entry following a bullish price action reversal on the H1 time frame immediately upon the next touch of 1.5000.
* Put 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.
* Remove 50% of the position as profit when the trade is 25 pips in profit and leave the remainder of the position to run.
Long Trade 2
* Long entry following a bullish price action reversal on the H1 time frame immediately upon the next entry into the zone between 1.4900 and 1.4878.
* Put 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.
* Remove 50% of the position as profit when the trade is 25 pips in profit and leave the remainder of the position to run.
Short Trade 1
* Short entry following a bearish price action reversal on the H1 time frame immediately upon the next touch of 1.5158.
* Put 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.
* Remove 50% of the position as profit when the price reaches 25 pips in profit and leave the remainder of the position to run.
Short Trade 2
* Short entry following a bearish price action reversal on the H1 time frame immediately upon the next touch of 1.5200.
* Put 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.
* Remove 50% of the position as profit when the price reaches 25 pips in profit and leave the remainder of the position to run.
GBP/USD Analysis
This pair was looking very weak but the strong rise in the Euro last Thursday had the effect of dragging the GBP up along with it, but not by anywhere near as much. Since this week opened, the pair is starting to fall again, especially since London opened, and it looks very much like being a
down day as there is no scheduled news likely to turn it around. However any fall could quite probably halt at the big round number of 1.5000 which we can expect to provide support.
There is nothing due today regarding the GBP or the USD.