Our free forex signals service trade today is a buy order on the GBP/USD pair. The GBP/USD pair dropped a little in the short term, but the upside pressure remains high. The price could still approach and reach new highs as the Dollar Index seems too overbought to be able to stay higher. DXY’s retreat could force the US Dollar to depreciate versus its rivals. The currency pair slipped lower to test and retest the near-term support levels only because the US retail sales data came in better than expected yesterday. Get FREE Forex Signals Now! 3 Free Forex Every Week – Full Technical Analysis UK Inflation Pushes Higher The British Pound was strongly bullish today after the United Kingdom published its inflation figures. The CPI registered a 4.2% growth in October versus 3.9% expected and compared to 3.1% in the previous reporting period. Moreover, the Core CPI rose by 3.4% exceeding the 3.1% estimates. The UK RPI, PPI Input, PPI Output, and the HPI indicators were reported better than expected as well. Later, Canada is to release its inflation data as well. These economic indicators could have an impact on the Dollar Index. Technically, the GBP/USD pair dropped a little to retest the ascending pitchfork’s lower median line (lml) which stands as a dynamic support. As long as it stays within the ascending pitchfork’s body, the pair could climb higher towards the descending pitchfork’s upper median line (UML). Free forex signals – BUY GBP/USD at 1.3486 Free forex signals entry price and takes profit Instrument: GBP/USD Order Type: BUY STOP Entry price: 1.3486 Stop Loss: 1.3390 TP1: 1.3602 My Risk: 1% Risk / Reward Ratio: 1: 1.2 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 Forecast: False Breakdown Through 1.13 Psychological Level Olimpiu Tuns 1 year Our free forex signals service trade today is a buy order on the GBP/USD pair. The GBP/USD pair dropped a little in the short term, but the upside pressure remains high. The price could still approach and reach new highs as the Dollar Index seems too overbought to be able to stay higher. DXY’s retreat could force the US Dollar to depreciate versus its rivals. The currency pair slipped lower to test and retest the near-term support levels only because the US retail sales data came in better than expected yesterday. [su_button url="https://www.forexcrunch.com/visit/learn2trade" style="3d" background="#1d44bb" size="8" center="yes" radius="0"]Get FREE Forex… Regulated 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.
