E Forex Analysis Of GBP/USD For Friday, August 10

First, we look into the previous day trade and what happened on August 9, 2018, and the GBP/USD pair opened at 1.28817 and went high at 1.29111 and gone to low at 1.28171 and finally closed at 1.28229. The calculated pivot point for the day is 1.28504.

The difference between high and low was nearly 0.940 points and there was a very good chance for traders to take the opportunity and finally benefit.  Now there is a new opportunity where the market is trying to go to low & some recovery levels for a few days.

For a few days, the pair was ranging from 1.2740 to 1.3350 levels and started moving to lower levels from low levels due to various reasons. Traders should be cautious since it reached the oversold region. Hourly (4 hrs) chart followers and traders should go for buy at 1.2800, 1.2893, 1.29408 and sell at 1.2710, 1.2660 levels, in order to get a good profit.

TRADERS SHOULD OBSERVE AT THESE LEVELS FOR THEIR TRADING

Level

First Level

Second Level

Third Level

Selling Level

1.2740

1.2710

1.2680

Buying Level

1.2822

1.2846

1.2872

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

GBPUSD FUNDAMENTALS TODAY

GMT

Event

Actual

Previous

08:30

 GBP Industrial Production (MoM)

0.4%

-0.2% 

08:30

 GBP Manufacturing Production (MoM)

0.4%

0.6% 

08:30

 GBP Industrial Production (YoY)

1.1%

1.2% 

08:30

 GBP Gross Domestic Product (QoQ)

0.4%

0.2%

08:30

 GBP Gross Domestic Product (YoY)

1.3%

1.2%

n/a

 GBP NIESR GDP Estimate (3M)

 

0.4%

12:30

 USD Consumer Price Index Ex Food & Energy (MoM)

 

0.2%

12:30

 USD Consumer Price Index Ex Food & Energy (YoY)

 

2.3%

12:30

 USD Consumer Price Index (YoY)

 

2.9%

12:30

 USD Consumer Price Index (MoM)

 

0.1%

12:30

 USD Consumer Price Index n.s.a (MoM)

 

251.989

12:30

 USD Consumer Price Index Core s.a

 

257.310

1 2
View single page >> |
How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.