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Our free forex signals service trade today is a buy order on the GBP/USD pair. We will analyze the GBP/USD pair and key reasons to buy it.

The GBP/USD pair slipped lower after registering an amazing swing higher. A retreat was somehow expected before resuming its upwards movement in the short term. However, the correction could bring us new long opportunities as the price action printed a continuation pattern. As you already know, the UK banks will be closed in observance of Christmas Day. Also, the UK banks will be closed tomorrow in observance of Boxing Day.

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US HPI 0.9% Growth Expected

Tomorrow, the US will release the HPI, which is expected to register a 0.9% growth in October. The S&P/CS Composite-20 HPI may report an 18.6% growth, while the Richmond Manufacturing Index could remain steady at 11 points.

From the technical point of view, the GBP/USD developed a down channel that could represent an upside continuation pattern. Therefore, a valid upside breakout could announce further growth. However, the bullish scenario could be invalidated if the rate drops and stabilizes below the 23.6% retracement level.

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Free forex signals – BUY GBP/USD at 1.3427

gbp/usd free forex signals

Free forex signals entry price and takes profit

Instrument: GBP/USD

Order Type: BUY STOP

Entry price: 1.3427

Stop Loss: 1.3368

TP1: 1.1.5315

My Risk: 1%

Risk / Reward Ratio: 1:1.5

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