GBPUSD -
GBP PRICE, UK JOBS DATA AND BREXIT:
- UK redundancies surged in Q3 and the unemployment rate jumped in September, according to the latest labor-market data.
- However, GBP/USD held its ground and EUR/GBP actually dipped.
- So far, FX has largely ignored the Pfizer vaccine news, with little sign of a move from safe-havens like the US Dollar into assets like the British Pound that are seen as inherently riskier.
- As for Brexit, this has been called yet another crucial week and there has been no indication yet of a breakthrough in the EU-UK trade talks.
Based on our higher time frames like the D1,H4 we can clearly see our uptrend. We do have data relating to the GBP today and with recent unpredicted news being released we could see some volatility for the USD.
I am not looking to enter this trade at the moment, i have currently set two entry points based on analysis.
Entry Point 1: 1.32709
Entry Point 2: 1.34688
I will be setting alerts on these prices and will then look to enter depending on the rejection of price i see to these key levels. With the weakness in the GBP we may see today a reversal could be on the cards.
If we take the the trade:
GBPUSD - SELL
SL: 1.37311
TP1: 1.33272
TP2: 1.31452
TP3: 1.30070
⚠️📈Risk Management // Disclaimer 📈⚠️
• Please remember that patience is the second name of this business and risk management is everything.
• Do not risk more than what you can afford and do not be greedy.
• The analysis, insights, and market breakdowns we provide are just ideas so it is your choice to follow our analysis or not.
• We will not be held responsible for any losses on your account as we do not have access to gain control to place your trades, you are the manager of your capital and it is down to you to manage this correctly.
Lot Sizes:
💰 £100-£300 : 0. 01 - 0.03
💰£400 - £500 : 0.04 - 0.05
💰£1000 - £2000 : 0.1 - 0.15
*******************************
Trading Futures , Forex, CFDs, and Stocks involve a risk of loss. Please consider carefully if such trading is appropriate for you. Past performance is not indicative of future results. Trading View posts and content on this website are for entertainment purposes only and do not constitute investment recommendations or advice.
We do, however, encourage our clients that are intending to trade, to be fully aware of the risks, fundamentals, technicalities associated with being a profitable trader. Appropriate training is necessary to succeed.
A reminder - trading foreign exchange and futures on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you, as well as to your advantage.
We do not take responsibility for any trader's loss and gain no reward or have no ownership of any profits made.
GBP PRICE, UK JOBS DATA AND BREXIT:
- UK redundancies surged in Q3 and the unemployment rate jumped in September, according to the latest labor-market data.
- However, GBP/USD held its ground and EUR/GBP actually dipped.
- So far, FX has largely ignored the Pfizer vaccine news, with little sign of a move from safe-havens like the US Dollar into assets like the British Pound that are seen as inherently riskier.
- As for Brexit, this has been called yet another crucial week and there has been no indication yet of a breakthrough in the EU-UK trade talks.
Based on our higher time frames like the D1,H4 we can clearly see our uptrend. We do have data relating to the GBP today and with recent unpredicted news being released we could see some volatility for the USD.
I am not looking to enter this trade at the moment, i have currently set two entry points based on analysis.
Entry Point 1: 1.32709
Entry Point 2: 1.34688
I will be setting alerts on these prices and will then look to enter depending on the rejection of price i see to these key levels. With the weakness in the GBP we may see today a reversal could be on the cards.
If we take the the trade:
GBPUSD - SELL
SL: 1.37311
TP1: 1.33272
TP2: 1.31452
TP3: 1.30070
⚠️📈Risk Management // Disclaimer 📈⚠️
• Please remember that patience is the second name of this business and risk management is everything.
• Do not risk more than what you can afford and do not be greedy.
• The analysis, insights, and market breakdowns we provide are just ideas so it is your choice to follow our analysis or not.
• We will not be held responsible for any losses on your account as we do not have access to gain control to place your trades, you are the manager of your capital and it is down to you to manage this correctly.
Lot Sizes:
💰 £100-£300 : 0. 01 - 0.03
💰£400 - £500 : 0.04 - 0.05
💰£1000 - £2000 : 0.1 - 0.15
*******************************
Trading Futures , Forex, CFDs, and Stocks involve a risk of loss. Please consider carefully if such trading is appropriate for you. Past performance is not indicative of future results. Trading View posts and content on this website are for entertainment purposes only and do not constitute investment recommendations or advice.
We do, however, encourage our clients that are intending to trade, to be fully aware of the risks, fundamentals, technicalities associated with being a profitable trader. Appropriate training is necessary to succeed.
A reminder - trading foreign exchange and futures on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you, as well as to your advantage.
We do not take responsibility for any trader's loss and gain no reward or have no ownership of any profits made.