GBPUSD Weekly Forex Forecast – 11th to 15th Sept 2017
The GBPUSD broke above the key psychological number 1.3000 and continued to trade higher in a strong fashion way with bullish momentum behind the price. This rally has opened the door for a possible break above August’s high 1.3267 which is also the yearly high price. However, as long as we trade below 1.3267 swings high we can see first a retracement towards support level 1.3150 followed by 1.3100. A break below this important support level will also invalidate the bullish case.
Claim Your $60 No Deposit Bonus Here
All you need is to have your live account verified!
Of course, you need to open a live account...
2 Brokers that we like A LOT!
USD30 from each Forex Broker Below.
Both Forex Brokers have excellent rating!
We use both of these brokers and proudly promote them!
The stochastic indicator is in overbought territory, so early in the week we can expect at least a pause in the bullish run before to decide on the next leg. A break and a daily close above 1.3267 will open the door for a retest of the 1.3340 an important daily pivot point. The UK economic calendar is heavy in terms of risk events that can be the catalyst for higher volatility. On Tuesday we have the CPI inflation figures and based on the market expectation we should see an uptick in inflation. Wednesday we have the Unemployment rate expected at 4.4% and the Employment figures. Thursday is the highlight risk event as the BOE is scheduled to announce its interest rate decision. Traders need to pay attention to how many dissidents are in favor of a rate hike as this can be the signal traders need to speculate on future rates hikes.
Thank you for your readership. We are truly grateful!
Hope that you like the strategies that we share.
If you like the strategies here, you will absolutely
love our latest strategy...
The aim of Morningpips is to finish trading by the morning.
Simple as that... Check it out!