First, we look into the previous day trade and what happened on July 24, 2018, and GBP/USD pair opened at 1.30992 and went high at 1.31553 and gone to low at 1.30706 and finally closed at 1.31425. The calculated pivot point for the day is 1.31228.
The difference between high and low was nearly 0.847 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 trying to go to the lower and consolidation levels for a few days.
Hourly (4 hrs) chart followers and traders should go for a buy at 1.31580, 1.32422 and a sell at 1.31434, 1.30807 levels, in order to get a good profit. For many days, the pair was ranging from 1.2964 to 1.3350 levels and started moving 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 |
1.3175 |
1.3199 |
1.3228 |
EVENTS TO BE OBSERVED BY TRADERS AT THESE TIMINGS AND TAKE ADVANTAGE
GBPUSD FUNDAMENTALS TODAY
|
GMT |
Event |
Actual |
Previous |
|---|---|---|---|
|
08:00 |
EUR M3 Money Supply (YoY) |
4.4% |
4.0% |
|
08:00 |
EUR M3 Money Supply (3m) |
4.1% |
3.9% |
|
08:00 |
EUR Private loans (YoY) |
2.9% |
2.9% |
|
08:30 |
GBP BBA Mortgage Approvals |
40.541K |
39.528K |
|
10:00 |
GBP CBI Distributive Trades Survey - Realized (MoM) |
32% |
|
|
11:00 |
USD MBA Mortgage Applications |
-2.5% |
|
|
14:00 |
USD New Home Sales (MoM) |
0.689M |
|
|
14:00 |
USD New Home Sales Change (MoM) |
6.7% |
|
|
14:30 |
USD EIA Crude Oil Stocks change |
5.836M |
|
|
17:00 |
USD 5-Year Note Auction |
2.719% |
See the levels in the Chart and trade accordingly:
(Click on image to enlarge)
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