E Forex Analysis Of GBP/USD For Tuesday, July 17

First, we look into the previous day trade and what happened on July 16, 2018, and it opened at 1.32216 and went high at 1.32919 and gone to low at 1.32162 and finally closed at 1.32334. The calculated pivot point for the day is 1.32472.

The difference between high and low was nearly 75 points and there was a very good chance for traders to take the opportunity and finally benefited.  Now the opportunity is, the market is trying to from lower to consolidation levels for a few days.

Four-hour chart followers and traders should go for buy at 1.32548, 1.33289 and sell at 1.32168, 1.31152 levels to get good profit. For many days, the pair was ranging from 1.3050 to 1.3350 levels and started moving from lower levels due to dollar become weak for various reasons.

TRADERS SHOULD OBSERVE AT THESE LEVELS FOR THEIR TRADING

Level

First Level

Second Level

Third Level

Selling Level

1.3184

1.3158

1.3125

Buying Level

1.3272

1.3300

1.3345

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

GBPUSD FUNDAMENTALS TODAY

GMT

Event

Previous

08:00

 GBP BOE's Governor Carney speech

 

08:30

 GBP Average Earnings excluding Bonus (3Mo/Yr)

2.8%

08:30

 GBP Claimant Count Rate

2.5%

08:30

 GBP Average Earnings including Bonus (3Mo/Yr)

2.5%

08:30

 GBP ILO Unemployment Rate (3M)

4.2%

08:30

 GBP Claimant Count Change

-7.7K

12:55

 USD Redbook index (MoM)

-0.2%

12:55

 USD Redbook index (YoY)

5.2%

13:15

 USD Industrial Production (MoM)

-0.1%

13:15

 USD Capacity Utilization

77.9%

14:00

 USD Fed's Powell Speech

 

14:00

 USD NAHB Housing Market Index

68

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