GBPUSD Trade Idea (17th December 2019)
Currency Pair: GBP/USD
Timeframe: H1
Date/Time of Signal: 17th December 2019 / 2215hrs (SGT)
Review:
Yesterday’s (16th Dec 2019) U.K. flash PMI data released were worse than forecasted and GBP/USD has been trending downwards.
The downward trend has been extended as reports of the U.K. Prime Minister Boris Johnson’s Boris Johnson attempt to include text in the legislation that prevents the government from extending the transition period, beyond end of 2020 which may lead to no-deal Brexit.
As GBP/USD broke the Support level of 1.3190, trade signaled to sell GBP/USD (Entry: 1.3153) with 3 Take Profit (TP) Targets (TP1: 1.3133, TP2: 1.3113, TP3: 1.3093) and Stop Loss (SL) at 1.3183.
Timeframe: H1
Date/Time of Signal: 17th December 2019 / 2215hrs (SGT)
Review:
Yesterday’s (16th Dec 2019) U.K. flash PMI data released were worse than forecasted and GBP/USD has been trending downwards.
The downward trend has been extended as reports of the U.K. Prime Minister Boris Johnson’s Boris Johnson attempt to include text in the legislation that prevents the government from extending the transition period, beyond end of 2020 which may lead to no-deal Brexit.
As GBP/USD broke the Support level of 1.3190, trade signaled to sell GBP/USD (Entry: 1.3153) with 3 Take Profit (TP) Targets (TP1: 1.3133, TP2: 1.3113, TP3: 1.3093) and Stop Loss (SL) at 1.3183.
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