GBP/USD Forex Signal: Filling the Gap

Mohammed Shalaby

Currency pairs are trading with large price fluctuations that may not suit some traders.

After reviewing the GBP/USD Forex Signal on the 21st of December, we find that the pair has not activated any buy or sell order.

Short Trade Ideas

The best short trading ideas today are from the following levels: 1.3571, 1.3644 and 13692.

  • Stop losses in the short strategy should be placed specifically at the 1.3702 level.

  • Collect profits on an average of 30 to 50 pips from each level.

  • Stop loss is moved to the entry point when making 20 pips in profit.

Long Trade Ideas

The best long trade today is from the following levels: 1.3068, 1.2976.

  • Stop losses in the long strategy should be placed at the 1.2966 level.

  • Collect profits on an average of 30 to 50 pips from each level.

  • Stop loss is moved to the entry point when making 20 pips in profit.

Money Management Strategy

Use 1% to 2% of your portfolio value for all trades and distribute this percentage on the stop loss points.

GBP/USD Technical Analysis

The GBP/USD pair finally succeeded yesterday in covering the price gap that occurred with last week's opening, which was estimated at approximately 125 points, and then ascended again to complete the northern trend that had started several weeks ago.

In addition, currency pairs are trading with large price fluctuations that may not suit some traders, which we anticipated at the beginning of December, as there is no clear technical analysis for this pair at the moment.

The best intraday selling levels are at 1.3571, 1.3644, 1.3692

The best intraday long targets are at 1.3068, 1.2976

GBP/USD Fundamental Analysis:

For the USD today, the US GDP will be announced, and the November Consumer Confident Index and existing home sales data will be released.

GBP/USD chart

Mohammed Shalaby
Mohammed Shalaby is an experienced Forex trader and has been involved in the Forex, stocks and options markets since 2008.

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