Forex trading signals and analysis for GBPUSD – 1 Aug 2014

Forex trading signals and analysis for GBPUSD – 1 Aug 2014

Analysis:

Good US GDP data two days ago pushed GBPUSD down below key support level 1.69200 and the down trend continued yesterday with price closed under support level and there was no clear buy signals yet.

It is clearly that the bearish momentum of the Cable is strong now and today UK Manufacturing PMI as well as US Nonfarm payroll report will decide whether GBPUSD will continue to fall down or will recover back to 1.700.

The next key support zone for the Cable is 1.6800 – 1.68200.

GBPUSDDaily - 1 Aug 14

Forex Trading Signals:

We will watch for sell signals before UK PMI reports at 8.30 GMT at key resistant zone 1.69200 and 1.700 after that.

Forex Signals 247.

Leave a Reply

Your email address will not be published. Required fields are marked *