Thursday, April 9, 2015

GBPUSD Buy Recommendation April 10th 2015


Currency Pair: GBPUSD
Timeframe: Hourly Chart (H1)
Recommendation: Buy GBPUSD @ 1.4715
Take Profit @ 1.4975
Stop Loss @ 1.4600

Today we will get industrial production, manufacturing production as well as construction output data out of the UK and I think we will see an across the board increase month-over-month which should be strong enough for a short-covering rally in the GBPUSD currency pair.

I also think that the increase in the US budget deficit as well as rise in import deflation will provide the necessary fundamental catalyst for a sell-off in the US Dollar.



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