First, we look into the previous day trade and what happened on July 18, 2018, and it opened at 1.31132 and went high at 1.31161 and gone to low at 1.30093 and finally closed at 1.30669. The calculated pivot point for the day is 1.30641.
The difference between high and low was nearly 0.1068 points and there was a very good chance for traders to take the opportunity and finally benefited. Now the opportunity is, the market is trying to go to lower levels from consolidation levels for a few days.
Hourly (8hrs) chart followers and traders should go for buy at 1.31194, 1.31964 and sell at 1.30807, 1.30188 levels to get a good profit. For many days, the pair was ranging from 1.3050 to 1.3350 levels and started moving from lower 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 |
1.2968 |
1.2940 |
1.2912 |
|
Buying Level |
1.3102 |
1.3130 |
1.3158 |
EVENTS TO BE OBSERVED BY TRADERS AT THESE TIMINGS AND TAKE ADVANTAGE
GBPUSD FUNDAMENTALS TODAY
|
GMT |
Event |
Actual |
Previous |
|---|---|---|---|
|
08:30 |
GBP Retail Sales (YoY) |
2.9% |
4.1% |
|
08:30 |
GBP Retail Sales (MoM) |
-0.5% |
1.4% |
|
08:30 |
GBP Retail Sales ex-Fuel (MoM) |
-0.6% |
1.4% |
|
08:30 |
GBP Retail Sales ex-Fuel (YoY) |
3.0% |
4.5% |
|
12:30 |
USD Continuing Jobless Claims |
1.739M |
|
|
12:30 |
USD Initial Jobless Claims |
214K |
|
|
12:30 |
USD Philadelphia Fed Manufacturing Survey |
19.9 |
|
|
13:00 |
USD Fed's Quarles speech |
||
|
14:30 |
USD EIA Natural Gas Storage change |
51B |
See the levels in the Chart and trade accordingly
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