Here is the key factor to keep in mind today for British Pound trades:
- UK Public Sector Net Borrowing: UK Public Sector Net Borrowing for August was reported at £5.1B and UK Public Sector Net Borrowing excluding Banking Groups at £5.7B. Economists predicted a figure of £6.4B and £7.1B. Forex traders can compare this to UK Public Sector Net Borrowing for July which was reported at -£1.3B and UK Public Sector Net Borrowing excluding Banking Groups which was reported at -£0.7B. UK Public Finances for August were reported at £0.04B and UK Central Government Borrowing at £1.1B. Forex traders can compare this to UK Public Finances for July which was reported at -£3.7B and UK Central Government Borrowing which was reported at -£7.1B.
Here is the key factor to keep in mind today for US Dollar trades:
- US Initial Jobless Claims and Continuing Claims: US Initial Jobless Claims for the week of September 16th are predicted at 302K and US Continuing Claims for the week of September 9th are predicted at 1,975K. Forex traders can compare this to US Initial Jobless Claims for the week of September 16th which were reported at 284K and US Continuing Claims for the week of September 2nd which were reported at 1,944K.
- Philadelphia Fed Business Outlook: The Philadelphia Fed Business Outlook for September is predicted at 17.5. Forex traders can compare this to the Philadelphia Fed Business Outlook for August which was reported at 18.9.
- US House Price Index: The US House Price Index for July is predicted to increase by 0.4% monthly and by 1.5% annualized. Forex traders can compare this to US House Price Index for June which increased by 0.1% monthly.
- US Leading Indicators: US Leading Indicators for August are predicted to increase by 0.2%. Forex traders can compare this to US Leading Indicators for July which decreased by 0.3%.
Should price action for the GBPUSD remain inside the or breakout above the 1.3480 to 1.3520 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 1.3500
- Take Profit Zone: 1.3680 – 1.3720
- Stop Loss Level: 1.3450
Should price action for the GBPUSD breakdown below 1.3480 following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 1.3450
- Take Profit Zone: 1.3270 – 1.3400
- Stop Loss Level: 1.3500
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
