Sforex
Long

IDEA FOR GBPUSD NEXT WEEK

FX:GBPUSD   BRITISH POUND / U.S. DOLLAR
375 2 1
Fundamental Analysis:
I wrap up what happen to GBPUSD             last week.
- UK Unemployment Rate fell down to 7.1% near threshold 7.0%
- GBPUSD             was reinforced from soaring up of EURUSD             to set new high 1.666
- Dovish comments of Governor Carney.
The main points in Carney speech:
- He considers a wide range of options.
- He admitted 7% benchmark of Unemployment Rate quickly be hit.
- He warned risk still remain.
- He wanted to see recovery in productivity.
- He liked weak currency.
- Rate hike was not on the table now.
Base on his comments, traders should pay attention more on productivity indicators.
This week, there is only one piece of UK data : UK GDP. And I believe 90% UK GDP will accelerate, and this will support for GBP.
Moreover, GBPUSD             is influenced by EURUSD             because UK economy links to EZ economy. Thus, I cannot ignore EZ economic data. Please refer my EURUSD             analysis:
Finally, I find two engines to LONG GBPUSD:
- Positive UK GDP.
- Positive EZ economic data.
Hence, I hit BUY position. Target : 1.6650
Stop Loss: 1.6350
160 pips from current price.
But I recommend traders should LONG GBPUSD             after Monday and before UK GDP releases. Target at 1.657, stop loss at 1.6350.

Please visit my wedsite for valuable info: http://www.sforex-solution.com/index.html
And like my FB             page: https://www.facebook.com/sforexsingals
Take profit at 1.60 level : 64.8 pips
Reply
GBP LOOKS STRONG
Reply
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
ประเทศไทย
Việt Nam
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Priority Support Contact Support Ideas Published Followers Following Private Messages Chat Sign Out