After reviewing the GBP/USD Forex signal on the 4th of December, we find that the pair has completely achieved the short target.
Short Trade Ideas
The best short ideas today are from the following levels: 1.3610 and 1.3643.
Stop losses in the short strategy should be placed specifically at the 1.3553 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: 1.3370, 1.3305 and 1.3270.
Stop losses in the long strategy should be placed at the 1.3260 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 for all trades and distribute this percentage on the stop loss points.
GBP/USD Technical Analysis
The GBP/USD rose last Friday to the resistance level at 1.3541, then rebounded directly to the bottom, achieving the full target that we referred to in the selling process. The pair rebounded to the 1.3480 resistance and closed below this level, which leads us to believe that the pair is still within the range of fluctuating northern targeting operations.
We also find that the GBP/USD is still within the range of a new ascending price channel whose borders may form distinct intraday buying and selling areas.
Best intraday selling levels are 1.3610, 1.3643.
Best intraday buying targets are at 1.3370, 1.3305, 1.3270.
GBP/USD Fundamental analysis
Today, neither the British pound nor the US dollar expects any important or influential economic data in the foreign exchange market.