Daily Outlook for the GBP / USD: The pair is trading at its highest level in two and a half years


Ideas for selling trading the simplest ideas for selling today are from the amount of 1.3660 and 1.3711. Stop losses are determined within the trading strategy. Sell specifically at 1.3749. Profits are taken at a rate of 30 to 50 points from each level. Stop losses are moved to the entry point at 20 points.

 the simplest ideas for purchasing trading today are rock bottom levels, 1.35310, 1.35000. The stop loss is decided within the buying trading strategy at the extent of 1.3407. Profits are taken at a rate of 30 to 50 points from each level. Stop losses are moved to the entry point at 20 points. Financial management strategy

 1% to twenty of the portfolio value is employed for all trades, and this percentage is distributed over the number of stop losses

 GBPUSD analysis

 The pound rose against the US dollar to surpass its highest levels since April of 2018, as optimistic Brexit news on the one hand, and therefore the strong dollar retreating yesterday, on the one hand, on the opposite hand, pushed the pair to leap above the very best resistance levels of 1.3546.

 When reviewing the optimistic Brexit news, there was a tone of cautious optimism, the statements of these liable for the negotiations from the ECU and British side, amid expectations that a trade agreement between the 2 parties would soon be reached before the deadline during the last days of this year.

 On the opposite hand, the President of Congress’s statements about working to succeed in the fourth relief bill before Christmas contributed to pressure on the weak dollar, which continued within the general declining trend of the US currency after fixing interest and Jerome Powell’s speech, which indicated that the present rise in cases may cause An economic downturn within the half-moon. However, he said that since vaccinations also will begin within the half-moon, the precise impact of Coronavirus within the coming year remains uncertain.

 Technically, the pound dollar pair is trading during a general bullish trend above the support levels on the weekly timeframe at 1.3531 levels, and therefore the pair is heading towards the resistance levels at 1.3621. The pair is taken into account to be buying only and it's impossible to consider entering against the overall trend except by exploiting corrections to enter bu

 Also, the simplest selling level within the intraday is 1.3660, 1.3711.



 Today we have a group of general economic news, where at 12:30 pm Saudi Arabia time, a press release from the Bank of England is going to be issued regarding the rate of interest decision, which is predicted to stabilize without change.

 With the start of December, this month is predicted to be the precedent of previous years, as December never involves the strong price fluctuations over the past few years, so it's necessary to warn of this very violent month’s trades.

 An alert from strong trading during today while awaiting the Bank of England interest decision, which is that the last for this year, which leads us to believe that the present trading week will witness tons of strong and influential price fluctuations, and this might not be appropriate for all trading accounts.

 Commitment to stopping losses at these moments is that the most vital step to follow

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