First, we look into the previous day trade and what happened on August 10, 2018, and it opened at 1.28241 and the GBP/USD pair went high at 1.28360 and gone to low at 1.27329 and finally closed at 1.27659. The calculated pivot point for the day is 1.27782.
The difference between high and low was nearly 0.1031 points and there was a very good chance for traders to take the opportunity and finally benefit. Now there is a new opportunity where the market is trying to go lower from low & recovery levels for a few days.
For a few days, the pair was ranging from 1.2730 to 1.3350 levels and started moving to lower levels from low levels due to various reasons. Traders should be cautious since it reached the oversold region. Hourly (4 hrs) chart followers and traders should go for buy at 1.2780, 1.2849, and sell at 1.2746, 1.2701 levels, in order to get a good profit.
TRADERS SHOULD OBSERVE AT THESE LEVELS FOR THEIR TRADING
Level
First Level
Second Level
Third Level
Selling Level
1.2720
1.2670
1.2620
Buying Level
1.2797
1.2828
1.2846
EVENTS TO BE OBSERVED BY TRADERS AT THESE TIMINGS AND TAKE ADVANTAGE
GBPUSD FUNDAMENTALS TODAY
GMT
Event
Previous
15:30
USD 3-Month Bill Auction
2.01%
15:30
USD 6-Month Bill Auction
2.18%
See the levels in the Chart and trade accordingly:
