Forex Analysis Of GBP/USD For Monday, July 23
First, we look into the previous day trade and what happened on July 20, 2018, and the GBP/USD pair opened at 1.30133 and went high at 1.31398 and gone to low at 1.29964 and finally closed at 1.31323. The calculated pivot point for the day is 1.30895.
The difference between high and low was nearly 0.1434 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 form a lower consolidation level for a few days.
Hourly (4 hrs) chart followers and traders should go for a buy at 1.31457, 1.32422 and a sell at 1.31271, 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 |
1.3068 |
1.3040 |
1.3012 |
|
Buying Level |
1.3185 |
1.3230 |
1.3270 |
EVENTS TO BE OBSERVED BY TRADERS AT THESE TIMINGS AND TAKE ADVANTAGE
GBPUSD FUNDAMENTALS TODAY
|
GMT |
Event |
Previous |
|---|---|---|
|
12:30 |
USD Chicago Fed National Activity Index |
-0.15 |
|
14:00 |
USD Existing Home Sales (MoM) |
5.43M |
|
14:00 |
USD Existing Home Sales Change (MoM) |
-0.4% |
|
14:00 |
EUR Consumer Confidence |
-0.5 |
|
15:30 |
USD 3-Month Bill Auction |
1.98% |
|
15:30 |
USD 6-Month Bill Auction |
2.14% |
See the levels in the Chart and trade accordingly:
(Click on image to enlarge)
Comments
