GBPUSD Signal and Analysis 07Feb to 13 Feb 2016
Previous week we had a lot of reason to say that GBPUSD trend changed from down to up.
When you are looking at the line analysis you can see that GBPUSD break up channel (marked by blue circle) this action will show us the uptrend is powerful.
Here my recommendation is buy GBPUSD on Monday and put your Stop Loss on 1.43390.
Another reason is GBPUSD candlestick review:
We had 2 Doji candle on 2 previous weeks and last week market goes up again we can see new uptrend wrought.
GBP and US Dollar Forex Economic Indicators:
| Forex News | Currency | Action |
| Manufacturing PMI | GBP | Positive |
| ISM Manufacturing PMI | USD | Negative |
| Construction PMI | GBP | Negative |
| Services PMI | GBP | Positive |
| ISM Non-Manufacturing PMI | USD | Negative |
| MPC Official Bank Rate Votes | GBP | Negative |
| Unemployment Claims | USD | Negative |
| Non-Farm Employment Change | USD | Negative |
When we are looking forex economic indicators we can’t see any positive news for US Dollar!
conclusion:
previous week show us a lot of reasons to buy GBPUSD in this week so the important price is 1.4400 if market price will go down till 1.4400 you should analyze the market again.
Author: M.Jamshidi
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