GBP/USD Potentially Strengthens Again Up to 1.39
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GBP/USD Potentially Strengthens Again Up to 1.39 - The GBP or USD pair has increased, this has been the case since April 2018. According to the information I obtained from the Forex Website, the pair maintained a strengthening throughout the American afternoon, despite stable U.S. Treasury yields halting the dollar's decline. On the other hand, the Bank of England's rising prospects over negative interest rate concerns support the rise of the Pound Sterling versus the US Dollar.
Technical Analysis
In the short term, GBP/USD technically increases. The range is expected to be at that point from 1.3755 to 1.3905. The trading plan will place a Pending Order on:
- Sell Stop (OP 1): 1.3805, Take Profit: 1.3755 (50 Pips).
- Buy Stop (OP 1): 1.3855, Take Profit: 1.3905 (50 Pips).
- Stop Loss: 50 Pips.
Attention:
- This analysis does not guarantee a 100% profit. To lock in profit, when the price goes to Target Profit, move the Stop Loss below the Sell position or above the Buy position.
- Maybe the broker I use could be different from the one you use. The difference in spreads, the highest and lowest prices, can accelerate the execution or not of this analysis.
