First, we look into the previous day trade and what happened on July 17, 2018, and it opened at 1.32334 and went high at 1.32681 and gone to low at 1.30678 and finally closed at 1.31132. The calculated pivot point for the day is 1.31497.
The difference between high and low was nearly 0.2003 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 from lower to 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 to 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 |
1.2989 |
1.2924 |
1.2866 |
|
Buying Level |
1.3081 |
1.3111 |
1.3141 |
EVENTS TO BE OBSERVED BY TRADERS AT THESE TIMINGS AND TAKE ADVANTAGE
GBPUSD FUNDAMENTALS TODAY
|
GMT |
Event |
Actual |
Previous |
|---|---|---|---|
|
24h |
EUR EcoFin Meeting |
||
|
09:00 |
EUR Consumer Price Index (YoY) |
2% |
2% |
|
09:00 |
EUR Consumer Price Index - Core (YoY) |
0.9% |
1.0% |
|
09:00 |
EUR Consumer Price Index - Core (MoM) |
0.0% |
0.3% |
|
09:00 |
EUR Consumer Price Index (MoM) |
0.1% |
0.5% |
|
11:00 |
USD MBA Mortgage Applications |
-2.5% |
2.5% |
|
12:30 |
USD Housing Starts Change |
5.0% |
|
|
12:30 |
USD Housing Starts (MoM) |
1.35M |
|
|
12:30 |
USD Building Permits (MoM) |
1.301M |
|
|
12:30 |
USD Building Permits Change |
-4.6% |
|
|
14:00 |
USD Fed's Powell Speech |
||
|
14:30 |
USD EIA Crude Oil Stocks change |
-12.633M |
See the levels in the Chart and trade accordingly
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