GBPUSD H4 Chart

GBPUSD Technical Analysis And Trade Idea

Today U.K data has been released.

04:30   GBP Construction Output (MoM) (Aug) 0.6% 0.1% -1.0%
04:30   GBP U.K. Construction Output (YoY) (Aug) 3.5% 0.2% 2.7%
04:30   GBP Industrial Production (MoM) (Aug) 0.2% 0.2% 0.3%
04:30   GBP Industrial Production (YoY) (Aug) 1.6% 0.8% 1.1%
04:30   GBP Manufacturing Production (MoM) (Aug) 0.4% 0.2% 0.4%
04:30   GBP Manufacturing Production (YoY) (Aug) 2.8% 1.9% 2.7%
04:30   GBP Trade Balance (Aug) -14.24B -11.20B -12.83B
04:30   GBP Trade Balance Non-EU (Aug) -5.83B -3.60B -5.34B

 

Only August trade balance was worse than expected. This may give a bullish momentum to GBPUSD.

GBPUSD is being priced at 1.31750. 1.32200 is the MA50 and MA200 of H4 chart time frame.

GBPUSD is likely to test 1.32200 as long as it holds above 1.31400.

You may enter LONG trade from the current level, or wait for pullbacks towards 1.31500 to enter LONG trade. Stop Loss will be 1.31200

UPDATE: 1.32200 has been reached with 50 Pips.

You may close some part of your positions and wait for the pullback by moving stop loss to entry level. 1.32200 is an important resistance and with H4 closings above 1.32200, you may add LONG positions.

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Warning: All markets trade in different phases; bull and bear markets don’t start overnight. Markets build through three major phases and depending on the time frame you are trading, you will see different phases.

If you enter a trade by analysing the H4 chart frame, this is just a day trading, your stop loss and take profit levels must be set up accordingly.

WARNING ABOUT TRADE IDEAS

  1. We enter trades on different pairs and we look for other trade opportunities. So we recommend you to enter trades with the smaller size.
  2. Do not exceed 10% margin.
  3. Stop Loss and Take Profit Levels are +/- 15 pips minimum.
  4. If we do not publish an update close the 40% of your position on the TP1 level and move your stop loss to entry level.
  5. Some trades ( especially with 300-500 pips profit target) can take 5-6 days to hit the targets. If you do not have patience, do not enter the trade.
  6. Our aim is to close each with week 2500-3000 pips profit minimum.
  7. If we mention as “pullbacks are buying/selling “ opportunities and we publish pullback levels, you do not need to wait for a signal from us. Use these opportunities at the mentioned levels.
  8. All markets trade in different phases; bull and bear markets don’t start overnight. Markets build through three major phases and depending on the time frame you are trading, you will see different phases. If you enter a trade by analysing the H4 chart frame, this is just a day trading, your stop loss and take profit levels must be set up accordingly.

 

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