GBP/USD Signals Update
Yesterday's signals expired without being triggered as none of the key levels were hit.
Today's GBP/USD Signals
Risk 0.75% per trade.
Trades may only be made between 8am and 5pm London time today.
Short Trade 1
Short entry following a bearish price action reversal on the H1 time frame immediately upon the next entry into the zone between 1.5665 and 1.5689.
Place the stop loss 1 pip above the local swing high.
Move the stop loss to break even once the trade is 25 pips in profit.
Take off 50% of the position as profit when the price reaches 1.5605 and leave the remainder of the position to ride.
Long Trade 1
Long entry following a bullish price action reversal on the H1 time frame immediately upon the next touch of 1.5537.
Place the stop loss 1 pip below the local swing low.
Move the stop loss to break even once the trade is 25 pips in profit.
Take off 50% of the position as profit when the price reaches 1.5575 and leave the remainder of the position to ride.
Long Trade 2
Long entry following a bullish price action reversal on the H1 time frame immediately upon the next touch of 1.5464.
Place the stop loss 1 pip below the local swing low.
Move the stop loss to break even once the trade is 25 pips in profit.
Take off 50% of the position as profit when the price reaches 1.5525 and leave the remainder of the position to ride.
GBP/USD Analysis
Little happened yesterday and today is likely to also be a quiet day, probably without any of the identified key levels being hit. This pair remains stuck within a range with nothing but very chopping action between around 1.5650 and 1.5550.
Concerning the GBP, there will be a release of Construction PMI data at 9:30am London time. There is nothing scheduled today regarding the USD.
