GBP/USD Signals Update
Yesterday’s signals were not triggered as neither of the key levels were ever reached.
Today’s GBP/USD Signals
Risk 0.75% per trade.
Trades may only be entered between 8am and 5pm London time today.
Long Trade 1
-
Go long following a bullish price action reversal on the H1 time frame immediately upon the next touch of 1.2940.
-
Place the stop loss 1 pip above the local swing high.
-
Move the stop loss to break even once the trade is 25 pips in profit.
-
Take off 50% of the position as profit when the price reaches 25 pips in profit and leave the remainder of the position to ride.
Short Trade 1
-
Go short following a bearish price action reversal on the H1 time frame immediately upon the next touch of 1.3181.
-
Place the stop loss 1 pip above the local swing high.
-
Move the stop loss to break even once the trade is 25 pips in profit.
-
Take off 50% of the position as profit when the price reaches 25 pips in profit and leave the remainder of the position to ride.
GBP/USD Analysis
We had a bullish bull back yesterday which got close to the higher round number at 1.3100 before falling off. The Asian session has been very flat and quiet as at the time of writing. Overall no meaningful changes to the picture, which still looks bearish and as if the better opportunities in the near future are going to remain on the short side.
(Click on image to enlarge)
There is nothing due today concerning the GBP. Regarding the USD, there will be a release of Building Permits data at 1:30pm London time.
Comments
Log in or sign up to join the conversation.