Our free forex signals service trade today is a buy order on GBP/USD. The pair will go up if the USD continues its downside correction. The GBP/USD pair is trading in the red at 1.306. Still, the retreat could be a temporary one. The pair may return to test the immediate support levels before resuming its uptrend. Technically, the price action signaled that the pair is oversold after failing to take out the 1.3000 psychological level. Also, after its massive drop, we cannot exclude a potential swing higher in the short term. As you already know, the Dollar Index is in a corrective phase. DXY’s further drop could force the USD to depreciate versus its rivals. –Are you interested in learning more about forex bonuses? Check our detailed guide- The USD took a hit from the US Existing Home Sales yesterday. The economic indicator came in at 5.77M, below 5.78M expected. Today, the US is to release the Unemployment Claims, Philly Fed Manufacturing Index, and the CB Leading Index. Fed Chair Powell speaks Tonight, the volatility could be huge as Fed Chair Powell’s speech could shake the markets. From the technical point of view, the GBP/USD pair jumped above the upper median line (UML), which represented a dynamic resistance. However, the price could extend its growth if it stays within the ascending pitchfork’s body above the lower median line (LML). BoE Gov Bailey speaks The BoE Governor’s speech is also due on the day. This is another key event that may bring some volatility to the market. Therefore, we anticipate that if the bullish trend persists, the GBP/USD price may jump above 1.3100. Get FREE Forex Signals Now! 3 Free Forex Every Week – Full Technical Analysis Free forex signals – Buy GBP/USD at 1.3087 Free forex signals entry price and take-profit Instrument: GBP/USD Order Type: BUY STOP Entry price: 1.3087 Stop Loss: 1.3021 TP1: 1.3185 My Risk: 1% Risk / Reward Ratio: 1:1.5 Looking to trade forex now? Invest at eToro! Trade Forex Now! 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money Olimpiu Tuns Olimpiu Tuns Olimpiu Tuns graduated with a Master in Business Administration and is a seasoned Market Analyst / Trader / Trainer with 10 years of experience in the financial markets having expertise in Forex, Commodities, Index, Cryptocurrencies, and Stocks. He worked as a Market Analyst for three major brokerage companies, as a prop trader, and as a contributor/content creator for news portals and educational platforms. View All Post By Olimpiu Tuns Forex Trading Signals share Read Next EUR/USD Price Analysis: Bulls Shy of 1.0900, Awaiting Fed Speech Saqib Iqbal 1 week Our free forex signals service trade today is a buy order on GBP/USD. The pair will go up if the USD continues its downside correction. The GBP/USD pair is trading in the red at 1.306. Still, the retreat could be a temporary one. The pair may return to test the immediate support levels before resuming its uptrend. Technically, the price action signaled that the pair is oversold after failing to take out the 1.3000 psychological level. Also, after its massive drop, we cannot exclude a potential swing higher in the short term. As you already know, the Dollar Index is… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
