First, we look into the previous day trade and what happened on August 2, 2018, and it opened at 1.31245 and went high at 1.31280 and gone to low at 1.30136 and finally closed at 1.30145. The calculated pivot point for the day is 1.30520.
The difference between high and low was nearly 0.1144 points and there was a good chance for traders to take the opportunity and finally benefited. Now the opportunity is, market is trying to from lower to higher & consolidation levels for few days.
Hourly (4 hrs) chart followers and traders should go for buy at 1.30313, 1.30838 and sell at 1.30140, 1.29408 levels to get good profit. For many days, the pair was ranging from 1.2964 to 1.3350 levels and Today is US Non-Farm Payroll data event & traders must be cautious at this time.
TRADERS SHOULD OBSERVE AT THESE LEVELS FOR THEIR TRADING
|
Level |
First Level |
Second Level |
Third Level |
|
Selling Level |
1.2960 |
1.2910 |
1.2860 |
|
Buying Level |
1.3130 |
1.3170 |
1.3210 |
EVENTS TO BE OBSERVED BY TRADERS AT THESE TIMINGS AND TAKE ADVANTAGE
GBPUSD FUNDAMENTALS TODAY
|
GMT |
Event |
Actual |
Previous |
|---|---|---|---|
|
08:00 |
EUR Markit Services PMI |
54.2 |
54.4 |
|
08:00 |
EUR Markit PMI Composite |
54.3 |
54.3 |
|
08:30 |
GBP Markit Services PMI |
53.5 |
55.1 |
|
09:00 |
EUR Retail Sales (MoM) |
0.3% |
0.3% |
|
09:00 |
EUR Retail Sales (YoY) |
1.2% |
1.6% |
|
12:30 |
USD Nonfarm Payrolls |
213K |
|
|
12:30 |
USD Average Weekly Hours |
34.5 |
|
|
12:30 |
USD Labor Force Participation Rate |
62.9% |
|
|
12:30 |
USD Average Hourly Earnings (YoY) |
2.7% |
|
|
12:30 |
USD Average Hourly Earnings (MoM) |
0.2% |
|
|
12:30 |
USD Unemployment Rate |
4.0% |
See the levels in the Chart and trade accordingly
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