First, we look into the previous day trade and what happened on July 31, 2018, and it opened at 1.31299 and went high at 1.31722 and gone to low at 1.30881 and finally closed at 1.31229. The calculated pivot point for the day is 1.31277.
The difference between high and low was nearly 0.0841 points and there was a good chance for traders to take the opportunity and finally benefited. Now the opportunity is, the market is trying to form lower to higher & consolidation levels for a few days.
Hourly (4 hrs) chart followers and traders should go for buy at 1.31338, 1.31518 and sell at 1.30990, 1.30494 levels to get a good profit. For many days, the pair was ranging from 1.2964 to 1.3350 levels and started moving to high 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 |
1.3094 |
1.3075 |
1.3055 |
|
Buying Level |
1.3154 |
1.3186 |
1.3210 |
EVENTS TO BE OBSERVED BY TRADERS AT THESE TIMINGS AND TAKE ADVANTAGE
GBPUSD FUNDAMENTALS TODAY
|
GMT |
Event |
Actual |
Previous |
|---|---|---|---|
|
23:01 |
GBP BRC Shop Price Index (YoY) |
-0.3% |
-0.5% |
|
06:00 |
GBP Nationwide Housing Prices n.s.a (YoY) |
2.5% |
2.0% |
|
06:00 |
GBP Nationwide Housing Prices s.a (MoM) |
0.6% |
0.7% |
|
07:00 |
EUR Non-monetary policy's ECB meeting |
||
|
08:00 |
EUR Markit Manufacturing PMI |
55.1 |
55.1 |
|
08:30 |
GBP Markit Manufacturing PMI |
54.0 |
54.3 |
|
11:00 |
USD MBA Mortgage Applications |
-0.2% |
|
|
12:15 |
USD ADP Employment Change |
177K |
|
|
13:45 |
USD Markit Manufacturing PMI |
55.5 |
|
|
14:00 |
USD ISM Prices Paid |
76.8 |
|
|
14:00 |
USD ISM Manufacturing PMI |
60.2 |
|
|
14:00 |
USD Construction Spending (MoM) |
0.4% |
See the levels in the Chart and trade accordingly
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