First, we look into the previous day trade and what happened on July 25, 2018, and the GBP/USD pair opened at 1.31424 and went high at 1.32001 and gone to low at 1.31367 and finally closed at 1.31874. The calculated pivot point for the day is 1.31747.
The difference between high and low was nearly 0.634 points and there was a very good chance for traders to take the opportunity and finally benefit. Now there is a new opportunity, the market is in consolidation levels for a few days.
Hourly (4 hrs) chart followers and traders should go for buy at 1.32134, 1.32832 and sell at 1.31560, 1.30807 levels, in order to get a good profit. For a few days, the pair was ranging from 1.2964 to 1.3350 levels and started moving to higher levels from lower levels due to the dollar becoming weak for various reasons.
TRADERS SHOULD OBSERVE AT THESE LEVELS FOR THEIR TRADING
|
Level |
First Level |
Second Level |
Third Level |
|
Selling Level |
1.3097 |
1.3068 |
1.3040 |
|
Buying Level |
1.3230 |
1.3068 |
1.3097 |
EVENTS TO BE OBSERVED BY TRADERS AT THESE TIMINGS AND TAKE ADVANTAGE
GBPUSD FUNDAMENTALS TODAY
|
GMT |
Event |
Previous |
|---|---|---|
|
24h |
USD OPEC meeting |
|
|
11:45 |
EUR ECB Deposit Rate Decision |
-0.4% |
|
11:45 |
EUR ECB Interest Rate Decision |
0% |
|
12:30 |
USD Continuing Jobless Claims |
1.751M |
|
12:30 |
USD Initial Jobless Claims |
207K |
|
12:30 |
USD Wholesale Inventories |
0.6% |
|
12:30 |
EUR ECB Monetary policy statement and press conference |
See the levels in the Chart and trade accordingly:
(Click on image to enlarge)
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