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.
3 Free Forex Every Week – Full Technical Analysis
Free forex signals – BUY GBP/USD at 1.3427
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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