After reviewing the GBP/USD Forex signal on the 8th 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: 1.3671, 1.3643 and 13671.
Stop losses in the short strategy should be placed specifically at the 1.3681 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: 1.3112, 1.2929 and 1.2895.
Stop losses in the long strategy should be placed at the 1.2885 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 in for all trades and distribute this percentage on the stop loss points.
GBP/USD Technical Analysis
The GBP/USD is still trading within a fluctuating range that targets the same levels we indicated yesterday as it barely fell to 1.3290, and is currently trading at 1.3380. In addition to that, the pound is still trying to re-test the price channel and close below it, forming a broken pattern trend.
Usually, the different forms of oscillations are followed by strong impulsive movements, which is what we are going to focus on during this period with the GBP/USD pair.
During the coming days of December, the pair is expected to start trading within strong price movements.
The best intraday selling levels are considered at 1.3526, 1.3643, 1.3671
The best intraday long targets are considered at 1.3112, 1.2929, 1.2895
GBP/USD Fundamental Analysis:
Today, the pound is not expecting any important economic data.
For the USD:
At 6:00 pm KSA time, a US report will be issued regarding job opportunities, which was previously estimated at 6.436 million, and is now expected to be at 6.300 million.
At 6:30 pm KSA time, a US report will be issued regarding the crude oil Inventories from the EIA.