GBP/USD
Over the past several days we saw the cable and the USD trade in a range and continue with that trend. However today the cable broke the resistance line at 1.6600 and it appears to be heading in an uptrend in a long term view. Right now is a great time to keep your eyes and ears open on this pair. Based on reviewing the daily chart, you will be able to view where the next resistance and support lines lay for this pair over the next few days.
Today we saw a spectacular move occur in the market with this pair at 11:00 GMT. From the fundamental point of view we saw that Monetary Policy Committee Rate Statement speech have an enormous impact on the market and following this announcement this pair jumped upwards by more than 102pips.
When we went in with a position of buying the GBP and selling the USD using 2 standard lots just before the announcement, we saw our profit soar to the amount of $2000.
This goes to show that even on a day when the market is not expected to move at all – profitable trades can occur!
Resistances:1.6650 – 1.6665
Supports:1.6600 – 1.6465
This review was very helpful!! Thanks for the info.
very interesting.
Where are you from? Is it a secret?
Have a nice day
Hobosic