GBP/USD: 1.25-Area May Prove To Be Crucial Price Level
And finally, the GBP/USD corrected south in the aftermath of the Bank of England’s rate hike. Still, the cable remains our problem child this month and we hope for some profitable movements to come in the days ahead. Bulls might jump in again at around 1.2490 since this is the price area of the lower trendline of the cable’s recent uptrend channel. Thus, the 1.2490-80 zone could lead either to a breakout or a pullback.
We wish you a happy weekend.
Daily Forex and DAX Signals:
If you are keen to know where we put Take-Profit and Stop-Loss, if we trade on a specific day or not and how we manage open positions, subscribe to our signals.
Our trading ideas for today 12/5/23:
EUR/USD
Long @ 1.0965
Short @ 1.0910
GBP/USD
Long @ 1.2540
Short @ 1.2485
DAX® (GER40)
Long @ 15890
Short @ 15830
Disclaimer: All trading ideas and expressions of opinion made in the articles are the personal opinion and assumption of MaiMarFX traders. They are not meant to be a solicitation or recommendation to buy or sell a specific financial instrument.
We wish you good trades!
Any and all liability of the author is excluded.
Copyright © All Rights Reserved 2023 MaiMarFX.
Follow us on social media: