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GBP/USD Signal - USD Continuing Jobless Claims - 17 Jul 2021

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Signal Details
Entry Price: 
1.39907
Take Profit: 
1.40805
Stop Loss: 
1.39605
Direction: 
Buy
How we trade
Average: 4 (3 votes)

GBPUSD has sold off overnight prior to the USD Initial jobless claims data, which shows the number of people applying for continuing unemployment benefits. The rally was sparked by the Fed signalling that they would raise interest rates in 2023, which is earlier than previously expected. Technically GBPUSD has broken below the 1H bollinger bands and the RSI has traded into oversold territory. This gives us a buy trade with our mean reversion strategy.

Submitted by Toni H. on Wed, 16 Jun 2021 23:20:20 GMT

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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.

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