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GBP/USD Signal - US Existing Home Sales - 29 Sep 2016

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Signal details
Entry Price: 
Close Price: 
Expiry Time: 
20:00 GMT
How we trade
5/5 of 2 ratings

The GBP/USD has been threading water for the past couple of sessions. While the pair has been looking slightly more bullish, the bulk of the market remains skeptical on the British pound. We on the other hand are bullish due to the latest release of US data this afternoon (US morning). Existing home sales have declined are we would be betting that the pair will go higher from here.

Looking at the current price level at 1.2997, we are seeing a great opportunity for our daily call option which we are buying as we are writing this text. The levels below 1.3000 have provided enough support in the past trading sessions so we are confident that we are on the right track on this trade.

Disclaimer: The article is written for informative purposes only and it is not financial advice. The author does not have any position in the currency pairs mentioned, and no plans to initiate a position. He wrote the article himself and expressed his own opinions. Readers should not treat any opinion expressed by the author as a specific inducement to make a particular trade or follow a particular strategy, but only as an expression of his opinion. All risks and coasts associated with online trading are your responsibility.