First, we look into the previous day trade and what happened on July 27, 2018, and it opened at 1.31105 and went high at 1.31282 and gone to low at 1.30832 and finally closed at 1.30994. The calculated pivot point for the day is 1.31036
The difference between high and low was nearly 0.0450 points and there was a very little chance for traders to take the opportunity and finally benefited. Now the opportunity is, the market is trying to form lower to consolidation levels for few days.
Hourly (4 hrs) chart followers and traders should go for buy at 1.31319, 1.31912 and sell at 1.30848, 1.30494 levels to get good profit. For many days, the pair was ranging from 1.2964 to 1.3350 levels and started moving to lower levels from low levels due to dollar become strong for various reasons.
TRADERS SHOULD OBSERVE AT THESE LEVELS FOR THEIR TRADING
|
Level |
First Level |
Second Level |
Third Level |
|
Selling Level |
1.3068
|
1.3010 |
1.2962 |
|
Buying Level |
1.3213 |
1.3250 |
1.3288 |
EVENTS TO BE OBSERVED BY TRADERS AT THESE TIMINGS AND TAKE ADVANTAGE
GBPUSD FUNDAMENTALS TODAY
|
GMT
|
Event |
Actual |
Previous |
|---|---|---|---|
|
08:30 |
GBP Net Lending to Individuals (MoM) |
£5.4B |
£5.3B |
|
09:00 |
EUR Consumer Confidence |
-0.6 |
-0.6 |
|
09:00 |
EUR Services Sentiment |
15.3 |
14.4 |
|
09:00 |
EUR Economic Sentiment Indicator |
112.1 |
112.3 |
|
09:00 |
EUR Business Climate |
1.29 |
1.38 |
|
09:00 |
EUR Industrial Confidence |
5.8 |
6.9 |
|
14:00 |
USD Pending Home Sales (MoM) |
-0.5% |
|
|
14:00 |
USD Pending Home Sales (YoY) |
-2.2% |
|
|
14:30 |
USD Dallas Fed Manufacturing Business Index |
36.5 |
|
|
n/a |
USD Loan Officer Survey |
||
|
15:30 |
USD 3-Month Bill Auction |
1.97% |
|
|
15:30 |
USD 6-Month Bill Auction |
2.14% |
See the levels in the Chart and trade accordingly
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