Our free forex signals service trade today is a buy order on the GBP/USD pair.
The GBP/USD pair is fighting hard to rebound as the Dollar Index remains under pressure. Still, we’ll have to wait for strong confirmation before considering going long. DXY tries to close its gap up, this scenario could signal a potential deeper drop.
Today, the UK Net Lending to Individuals was reported lower at 2.3B, The Mortgage Approvals dropped from 72K to 67K below 71K expected, while the M4 Money Supply registered only a 0.6% growth versus 0.7% expected. The pair rallied even if the economic figures disappointed.
3 Free Forex Every Week – Full Technical Analysis
Non-farm payrolls week
As you already know, the United States is to release high-impact data during the week. On Friday, the Non-Farm Payrolls, Average Hourly Earnings, Unemployment Rate, and the ISM Services PMI could be decisive.
Today, the US is to release its Pending Home Sales indicator which is expected to register a 0.8% growth versus 2.3% drop in the previous reporting period. Technically, the GBP/USD pair registered a strong downside movement, so a temporary rebound is natural.
Now, it has retested the daily pivot of 1.3327 and now it tries to take out a dynamic resistance and the weekly pivot. A new higher high, a bullish closure above 1.3365 could activate further growth.
Free forex signals – BUY GBP/USD at 1.3369
Free forex signals entry price and takes profit
Instrument: GBP/USD
Order Type: BUY STOP
Entry price: 1.3369
Stop Loss: 1.3317
TP1: 1.3432
My Risk: 1%
Risk / Reward Ratio: 1: 1.2
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