GBP/USD Signal - USD Nonfarm Productivity - 8 Dec 2020

Signal Details

Entry Price:

1.3355

Take Profit:

1.3473

Stop Loss:

1.3240

Direction:

Buy

Result:

Profit

How we trade

GBPUSD is trending to the upside prior to the USD Nonfarm productivity data. The data shows the output per Hour of labor worked, and considering the disappointing NFP data last week week we aren't expecting this data to be overly positive. Technically GBPUSD is above 1.3343 pivot today prior to the data, however traders should keep a close eye on the 30m 50MA which currently is a support and the 1h 50MA which is currently resistance.
We anticipate further upside into 1.3473.

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Submitted by Toni H. on Mon, 07 Dec 2020 23:30:33 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.

GBP/USD Signal - USD Nonfarm Productivity - 8 Dec 2020

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