GBPUSD - Looking to buy today

Jarratt Davis

Special Consultant to the FPA
Messages
1,495
Hey everyone,


Today I expect to see strength in the GBP currency against all major currencies, especially after BOE’s McCafferty said, the time for UK rates to rise back to more normal levels is approaching.

Look to get in around the 1.6800 area, with a stop loss placed at 1.6730 and take profit targets around 1.6850 to 1.6880.

P.S - If you want to learn more about how I trade, check out this link below

http://www.forexpeacearmy.com/forex-forum/fpa-freebies-discounts-list/34326-free-trading-course-forex-pro-jarratt-davis.html
 
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Erhard Meyer

Recruit
Messages
6
Dollar Strength?

Hi Jarratt! Thanks for the trade. Any ideas on why both EURUSD and GBPUSD dipped so much during morning trade?
 

Jarratt Davis

Special Consultant to the FPA
Messages
1,495
Hi Jarratt! Thanks for the trade! Any ideas on why both GBPUSD and EURUSD dipped so much in morning trade?

Hey Erhard,

The main reason for the drop was because of USD strength, however I don't expect this strength to last very long and I expect GBPUSD and EURUSD to recover in the coming days!

Hope that helps!

Jarratt
 
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Jarratt Davis

Special Consultant to the FPA
Messages
1,495
In 1.6780. If price will not reach 1.6850 today what to do, close position or wait?

Hey MiracleTrading,

I would be willing to hold GBPUSD positions as there is nothing fundamental stopping this pair from eventually getting back towards 1.7000 in the coming weeks- however if you're not comfortable with holding positions then you could take profits / cut losses before the day is over. Bear in mind there is nothing fundamental driving this pair lower at the moment so I will be confident to hold my long positions! :)

Hope that helps!

Jarratt
 
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