Here are the key factors to keep in mind today for British Pound trades:

• UK Lloyds Business Barometer: The UK Lloyds Business Barometer for December was reported at 28. Forex traders can compare this to the UK Lloyds Business Barometer for November which was reported at 24.
• UK Current Account Balance: The UK Current Account Balance for the third-quarter is predicted at -£21.4B. Forex traders can compare this to the UK Current Account Balance for the second-quarter which was reported at -£23.2B.
• UK GDP and UK Total Business Investment: The final UK GDP for the third-quarter is predicted to increase by 0.4% quarterly and by 1.5% annualized. Forex traders can compare this to the previous UK GDP for the third-quarter which increased by 0.4% quarterly and by 1.5% annualized. Final UK Total Business Investment for the third-quarter is predicted to increase by 0.2% quarterly and by 1.3% annualized. Forex traders can compare this to the previous UK Total Business Investment for the third-quarter which increased by 0.2% quarterly and by 1.3% annualized.
• UK Index of Services: The UK Index of Services for October is predicted to increase by 0.2% monthly and by 0.3% monthly over the three months-over-three months period which ended October. Forex traders can compare this to the UK Index of Services for September which increased by 0.1% monthly and by 0.4% monthly over three months-over-three months period which ended September.

Here is the key factor to keep in mind today for US Dollar trades:

• US Personal Income and Personal Spending: US Personal Income for November is predicted to increase by 0.4% monthly and Personal Spending is predicted to increase by 0.5% monthly. Forex traders can compare this to Personal Income for October which increased by 0.4% monthly and to Personal Spending which increased by 0.3% monthly. Real Personal Spending for November is predicted to increase by 0.2% monthly. Forex traders can compare this to Real Personal Spending for October which increased by 0.1% monthly. The PCE Deflator for November is predicted to increase by 0.3% monthly and by 1.8% annualized. Forex traders can compare this to the PCE Deflator for October which increased by 0.1% monthly and by 1.6% annualized. The PCE Core Deflator for November is predicted to increase by 0.1% monthly and by 1.5% annualized. Forex traders can compare this to the PCE Core Deflator for October which increased by 0.2% monthly and by 1.4% annualized.
• US Preliminary Durable Goods Orders: US Preliminary Durable Goods Orders for November are predicted to increase by 2.0% monthly and Durables Excluding Transportation are predicted to increase by 0.5% monthly. Forex traders can compare this to US Durable Goods Orders for October which decreased by 0.8% monthly and to Durables Excluding Transportation which increased by 0.9% monthly. Capital Goods Orders Non-Defense Excluding Aircraft for November are predicted to increase by 0.5% monthly and Capital Goods Shipments Non-Defense Excluding Aircraft are predicated to increase by 0.3% monthly. Forex traders can compare this to Capital Goods Orders Non-Defense Excluding Aircraft for October which increased by 0.3% monthly and to Capital Goods Shipments Non-Defense Excluding Aircraft which increased by 1.1% monthly.
• US New Home Sales: US New Home Sales for November are predicted to decrease by 5.1% monthly to 650K new homes. Forex traders can compare this to US New Home Sales for October which increased by 6.2% monthly to 685K new homes.
• US Michigan Consumer Confidence: US Michigan Consumer Confidence for December is predicted at 97.2. Forex traders can compare this to US Michigan Consumer Confidence for November which was reported at 96.8. Current Conditions for December are expected at 116.0 and Expectations are predicted at 85.0. Forex traders can compare this to Current Conditions for November which were reported at 115.9 and to Expectations which were reported at 84.6.

Should price action for the GBPUSD remain inside the or breakout above the 1.3350 to 1.3390 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 1.3370
• Take Profit Zone: 1.3620 – 1.3655
• Stop Loss Level: 1.3300

Should price action for the GBPUSD breakdown below 1.3350 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 1.3320
• Take Profit Zone: 1.3025 – 1.3120
• Stop Loss Level: 1.3370

Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.