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Billy Jury

GBP/USD analysis

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In the GBPUSD market there is strong buy signal we are looking and all the signal was made according to the Alligator, moving average and trend line and so to the buyers the entry point is at 1.3929 and the target point is at 1.3966.

 

gbpusd-h1-instaforex-group.png

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The GBP/USD pair stalled its recovery move just ahead of the key 1.3500 psychological mark and quickly retreated around 40-pips from session tops. 

The pair pounds to dollars was seen building on its overnight modest rebound from sub-1.3400 level and got an additional boost from a follow-through US Dollar profit-taking slide. Further gains, however, remained capped amid reemerging Brexit concerns, which has been a key overhang for the British Pound in the recent past.

Meanwhile, the pair had a rather muted reaction to mixed comments by the BoE MPC members at the testimony on the inflation and economic outlook before the Parliament’s Treasury Select Committee (TSC) this Tuesday.

The pair now seems to be finding some support near mid-1.3400s as investors now start repositioning for this week's important UK macro releases, including the latest consumer inflation figures and month retail sale data. 

This along with the latest FOMC meeting minutes, coupled with speeches by influential FOMC members and the release of US durable goods might assist investors to determine the pair's next leg of directional move.

Technical levels to watch

Any subsequent retracement is likely to find support near the 1.3435-30 region, below which the pair is likely to slide back towards retesting the 1.3400 handle before eventually heading further lower in the near-term.

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GBP/USD Signals 11.19.18
Risk 0.75% per trade.

Trades may only be taken before 5pm London time today.

Short Trade 
Short entry following a bearish price action reversal on the H1 time frame immediately upon the next touch of 1.2879 or 1.3044.
Place the stop loss 1 pip above the local swing high.
Adjust the stop loss to break even once the trade is 25 pips in profit.
Remove 50% of the position as profit when the price reaches 25 pips in profit and leave the remainder of the position to run.gbpusd-m-m30-riston-capital-ltd.png

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gbpusd-h1-xm-global-limited.png

 

For alternative trading strategies based on forex technical analysis today we can look for sell signal confirmation if a correction occurs to the 1.28303. The target potential is up to the range 1.27696.

Be careful if the price breaks above 1.28778 because it has the potential to break this bearish trend.

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Forex Market News - GBP/USD: Bulls headed to 1.3150 surrounded by hopes for May's subsidiary Brexit plot

Reports of DUP declaration UK PM May and better risk tones boost the Sterling.
Further upside creation taking place ahead of UK CBI realized sales and Feds Beige Book official pardon.
The buying merger on the pound remains unabated, pushing the GBP/USD pair message towards the midpoint of the 1.31 handle as we head towards the to the fore European trading.

GBP/USD trades above every major DMAs

The recent bullish progression more or less the British pound gathered steam in before Asia taking into account the reports that the Northern Irish Democratic Unionist Party (DUP) decided to privately take to bond UK PM Mays Plan B Brexit Deal. The headlines offered spacious impetus to the bulls, now driving the Cable to the highest levels past November 2018 near 1.3130 regions.

Meanwhile, the broad-based US dollar rally to multi-week highs at a loose withdraw legs surrounded by enlarged risk tones, as the Asian equities apportion calm to the side of oil prices on the subject of conflicting reports more than the US-China trade elaborate. Hence, the latest leg then to in the greenback with collaborated to the upside in the spot. The USD index drops -0.20% to 96.40, extending the retreat from three-week tops of 96.68.

Looking ahead, the recent Brexit reports will continue to underpin the sentiment more or less the major even though the risk trends will put-on a key driver together along in the midst of a nonappearance of first-tier macro releases from both the UK and the US docket today. The UK sees the BBA mortgage approvals and CBI realized sales data through the Feds Beige Book will be released well along in the NA session.

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Resistance at 1.32 has been tested but with no market strength to break it. So I am expecting some short term down trend. There might be even potential for testing support at 1.20 on longer term. What are your thoughts?

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I'm going to sell GBP/USD due to uncertainty on Brexit remains. I see a further breakdown on the short side and expect the major support area around 1.300 not to hold.

gbpusd-m-m30-riston-capital-ltd.png

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The GBPUSD pair continues to rise calmly to reach the thresholds of 1.2962 level, and as long as the price is below this level, our bearish overview will remain active for today, supported by stochastic negativity, reminding you that our next main target reaches 1.2800.

gbpusd-m-m30-riston-capital-ltd.png

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On 4/27/2018 at 6:24 AM, Billy Jury said:

In the GBPUSD market there is strong buy signal we are looking and all the signal was made according to the Alligator, moving average and trend line and so to the buyers the entry point is at 1.3929 and the target point is at 1.3966.

 

gbpusd-h1-instaforex-group.png

 

Is this trading signal still valid? or maybe there are updates to this set up? I'm going to open trade with Hotforex but not sure if the technical picture remains intact. 

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Guys, GBPUSD catch much attention recently since all political issues has been very challenging also for financial markets. I was hoping to get here some updated information and thoughts about future currency pair moves. Anyone?

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