GBPUSD: under pressure against the background of a strengthening US dollar

GBPUSD
Jan. 8, 2016, 10:28
Sell on a level breakthrough of 1.4600 with 1.4530 target. Stop loss = 1.4650.

Reason for the trading strategy

If the UK trade deficit fell to less than 10 billion pounds in November, the GBP/USD pair could consolidate above the 1.4645 level. Meanwhile, the expectations of a release of some good US labor market data increase the likelihood of the US Federal Reserve raising the key interest rate further and push the pair to the 1.4530 level.

GBPUSD, H1

GBPUSD: under pressure against the background of a strengthening US dollar

GBPUSD: under pressure against the background of a strengthening US dollar

GBPUSD
Jan. 6, 2016, 09:58
Sell on a level breakthrough of 1.4637 with 1.4572 target. Stop loss = 1.4687.

Reason for the trading strategy

The weakness of the euro against the US dollar contributes to strengthening of the latter against most EU currencies. In addition, the internal statistics provides support for the world's reserve currency. In December, the ISM New York manufacturing index grew from 60.7 p. to 62 p.



GBPUSD, H4

GBPUSD: under pressure against the background of a strengthening US dollar