theforexportal

GBP poised for a move higher but caution needed

Long
FX:GBPUSD   British Pound / U.S. Dollar
We've just gone LONG this pair from 1.2400 with a STOP under the H4 200 at 1.2381. Not too convinced by this trade but WS1 and H4 200 sma is offering support and for a 19 pip risk this trade looks value.
GBP/USD has lost ground this week with some mixed UK numbers - with Manufacturing Production and Manufacturing PMI missing though Services PMI came in better than expected. Last week the GBP had a BULLISH feel but the mood has shifted to neutral.
Under 1.2377 then we would look to SELL this pair for a significant move south.

Comments

Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Private Messages Chat Sign Out