FX.co ★ GBP/USD

Hello everyone! Buying GBPUSD still remains the best idea, despite the strong impulsive growth of the pair since the end of July. I forecast a weakening of the US dollar across the entire Forex market ahead of the NFP release, while the Bank of England’s continued hawkish rhetoric virtually guarantees a quick recovery of the GBPUSD trend. Current forecasts for the US labor market predict a slowdown in new job creation. This reduces the probability of a rate hike at the upcoming Fed meetings. In addition to the Bank of England factor, the pound is supported by political stabilization after the election of the new prime minister. My trading plan: Opening a long position in the zone: 1.3430 – 1.3455 Stop Loss: 1.3390 Take Profit: 1.3500