Forex Analysis Of GBP/USD For Tuesday, August 14

First, we look into the previous day trade and what happened on August 13, 2018, and the GBP/USD pair opened at 1.27452 and went high at 1.27892 and gone to low at 1.27333 and finally closed at 1.27599. The calculated pivot point for the day is 1.27608.

The difference between high and low was nearly 559 points and there was a good chance for traders to take the opportunity and finally benefit. Now there is a new opportunity where the market is trying to go from lower to low & recovery levels for a few days.

For a few days, the pair was ranging from 1.2740 to 1.3350 levels and started moving to lower levels from low levels due to various reasons. Traders should be cautious since it reached the oversold region. Hourly (4 hrs) chart followers and traders should go for buy at 1.2785, 1.2851, and sell at 1.2728, 1.2636  levels in order to get a good profit. Today, the pair would be on sideways and will try to go to the upper levels.

TRADERS SHOULD OBSERVE AT THESE LEVELS FOR THEIR TRADING

Level

First Level

Second Level

Third Level

Selling Level

1.2720

1.2670

1.2620

Buying Level

1.2910

1.2960

1.3010

EVENTS TO BE OBSERVED BY TRADERS AT THESE TIMINGS AND TAKE ADVANTAGE 

GBPUSD FUNDAMENTALS TODAY

GMT

Event

Actual

Previous

09:00

 EUR ZEW Survey - Economic Sentiment

-11.1

-18.7

09:00

 EUR Industrial Production s.a. (MoM)

-0.7%

1.4% 

09:00

 EUR Industrial Production w.d.a. (YoY)

2.5%

2.6% 

09:00

 EUR Gross Domestic Product s.a. (YoY)

2.2%

2.1%

09:00

 EUR Gross Domestic Product s.a. (QoQ)

0.4%

0.3%

10:00

 USD NFIB Business Optimism Index

107.9

107.2

12:30

 USD Export Price Index (YoY)

 

5.3%

12:30

 USD Import Price Index (MoM)

 

-0.4%

12:30

 USD Export Price Index (MoM)

 

0.3%

12:30

 USD Import Price Index (YoY)

 

4.3%

12:55

 USD Redbook index (MoM)

 

0.9%

12:55

 USD Redbook index (YoY)

 

5.6%

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