GBP/USD Signal Update
Yesterday’s signals were not triggered as the price never reached either 1.6808 or 1.6890.
Today’s GBP/USD Signals
Risk 0.75%.
Entries may only be made between 8am and 5pm London time today only.
Long Trade
Long entry at the first touch of 1.6684.
Put a stop loss at 1.6644.
Adjust the stop loss to break even when the price reaches 1.6790.
Remove 75% of the position as profit at 1.6790 and leave the remainder of the position to ride.
Short Trade
Short entry following bearish price action on the H1 time frame following the first touch of 1.6808.
Put a stop loss one pip above the swing high.
Adjust the stop loss to break even when the price reaches 1.6700.
Remove 75% of the position as profit at 1.6700 and leave the remainder of the position to ride.
GBP/USD Analysis
As expected, yesterday’s action was extremely quiet, with the price not really moving very much at all. A bearish inside bar was printed on the daily chart, and the low of this was broken overnight. However we have seen the price rise a little this morning. The action does not really give us any clues as to what will happen next. The best prediction that can be made is that in the absence of any important news today, major support and resistance levels are probably going to hold.
There are no high-impact data releases due today concerning either the GBP or the USD. Therefore it is likely to be a very quiet day today for this pair.