Forex Analysis Of GBP/USD For Friday, July 20
First, we look into the previous day trade and what happened on July 19, 2018, and it opened at 1.30666 and went high at 1.30824 and gone to low at 1.29643 and finally closed at 1.30113. The calculated pivot point for the day is 1.30200.
The difference between high and low was nearly 0.1181 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 higher from support levels for a few days.
Hourly (2 hrs) chart followers and traders should go for buy at 1.30807, 1.31937 and sell at 1.29809, 1.29541 levels 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 dollar become weak for various reasons.
TRADERS SHOULD OBSERVE AT THESE LEVELS FOR THEIR TRADING
|
Level |
First Level |
Second Level |
Third Level |
|
Selling Level |
1.2958 |
1.2930 |
1.2882 |
|
Buying Level |
1.3070 |
1.3098 |
1.3126 |
EVENTS TO BE OBSERVED BY TRADERS AT THESE TIMINGS AND TAKE ADVANTAGE
GBPUSD FUNDAMENTALS TODAY
|
GMT |
Event |
Actual |
Previous |
|---|---|---|---|
|
24h |
USD OPEC meeting |
||
|
08:00 |
EUR Current Account s.a |
€4.6B |
€27.3B |
|
08:00 |
EUR Current Account n.s.a |
€27.3B |
€29.6B |
|
08:30 |
GBP Public Sector Net Borrowing |
£4.530B |
£3.852B |
|
17:00 |
USD Baker Hughes US Oil Rig Count |
863 |
|
|
19:30 |
USD CFTC USD NC net positions |
$172K |
|
|
19:30 |
USD CFTC Oil NC net positions |
654.5K |
|
|
19:30 |
USD CFTC Gold NC net positions |
$81.4K |
|
|
19:30 |
GBP CFTC GBP NC net positions |
£-40.4K |
|
|
19:30 |
EUR CFTC EUR NC net positions |
€24.4K |
See the levels in the Chart and trade accordingly
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