By reviewing the GBP/USD Forex signal on the 12th of December, we find that the pair has not activated any buy or sell order.
Short Trade Ideas
The best short trading ideas today are from the following levels: 1.3582, 1.3711 and 13759.
Stop losses in the short strategy should be placed specifically at the 1.3769 level.
Collect profits on an average of 30 to 50 pips from each level.
Stop loss is moved to the entry point when making 20 pips in profit.
Long Trade Ideas
The best long trade today is from the following levels: 1.3062, 1.2976.
Stop losses in the long strategy should be placed at the 1.2966 level.
Collect profits on an average of 30 to 50 pips from each level.
Stop loss is moved to the entry point when making 20 pips in profit.
Money Management Strategy
Use 1% to 2% of your portfolio value in for all trades and distribute this percentage on the stop loss points.
GBP/USD Technical Analysis
The GBP/USD has so far failed to cover the price gap that occurred this week. The pair also managed to reach the upper bound of the descending price channel and rebound from its borders, which leads some analysts to believe that it is possible to cover the price gap during the week. Can the GBP/USD cover the price gap?
On the other hand, the pair is still trading within a fluctuating range, without having a clear direction, but has been trading in a corrective sideways range for several weeks. In addition to breaking out from the price channel, the occasional form of prices will clarify the pair’s technical vision more.
The different forms of fluctuation usually follow strong impulsive movements, which is what we are going to focus on during this period with the GBP/USD.
The best intraday selling levels are 1.3582, 1.3711, 1.3759.
The best intraday long targets are 1.3068, 1.2976.
GBP/USD Fundamental Analysis:
Today, the USD is not expecting any important economic data. At 10:00 KSA time, there will be a news item related to the pound concerning the unemployment change rate.