Table of Contents
Affiliate Disclosure
Affiliate Disclosure adheres to strict guidelines to preserve editorial integrity to help you make decisions with confidence. Some of the reviews and content we feature on this site are supported by affiliate partnerships from which this website may receive money. This may impact how, where and which companies / services we review and write about. Our team of experts work to continually re-evaluate the reviews and information we provide on all the top Forex / CFD brokerages featured here. Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering. Safety is evaluated by quality and length of the broker's track record, plus the scope of regulatory standing. Major factors in determining the quality of a broker’s offer include the cost of trading, the range of instruments available to trade, and general ease of use regarding execution and market information.

GBP/USD Forex Signal- June 25, 2014

GBP/USD Signal Update

Yesterday’s signal was not triggered and expired.

Today’s GBP/USD Signal

Risk 0.75%.

Entries can only be made from 8am to 5pm London time today.

Long Trade 1

Long entry following bullish price action on the H1 time frame after the first touch of 1.6914.

Place a stop loss 1 pip below the local swing low.

Move the stop loss to break even when the price reaches 1.6990.

Take off 75% of the position as profit at 1.6990 and leave the remainder of the position to run.

GBP/USD Analysis

Yesterday the market was surprised by the Bank of England which led to this pair falling, although it did not come very close to reaching the supportive area at 1.6914. At the time of writing we are falling again and are only about 35 pips away.

Yesterday we also saw the area around 1.7000 flip from being supportive to resistance, but this level is a little too muddied for me to want to use right now.

The only clear opportunity that really stands out would be a long trade off the likely support level at 1.6914. This horizontal level is also quite confluent today with the very old, long-term bullish trend line. It has been broken, but has seemed to re-establish itself after holding both as support and as resistance.

My colleague Christopher Lewis is also looking to buy this pair.

We might not reach 1.6914 this morning, but some positive news for the USD shortly after New York opens later might well achieve this.

GBPUSD 62514

There are no high-impact data releases scheduled for today that are expected to directly affect the GBP. Later at 1:30pm London time there will be a release of US Core Durable Goods Orders and Final GDP data, which may affect the USD. It might be a quiet morning for this pair.

Adam Lemon
About Adam Lemon

Adam Lemon began his role at DailyForex in 2013 when he was brought in as an in-house Chief Analyst. Adam trades Forex, stocks and other instruments in his own account. Adam believes that it is very possible for retail traders/investors to secure a positive return over time provided they limit their risks, follow trends, and persevere through short-term losing streaks – provided only reputable brokerages are used. He has previously worked within financial markets over a 12-year period, including 6 years with Merrill Lynch.


Most Visited Forex Broker Reviews