Daily Forex Analysis - GBP Currency Analysis (28 July 2021)
Currency call summary 28 07 2021 with LCMS Traders:
GBPUSD is a possible sell trade if price can reject off the 1.39110 resistance level with a 30 pip stop loss and 60 pip take profit, given the on going US dollar strength likely as the FOMC meeting approaches tomorrow morning at 02:00 GMT+8. EURGBP is a possible buy trade if it can bounce off the 0.8515 support level using a 30 pip stop loss and 60 pip take profit, with the GBP looking to retrace after significant movement higher. USDJPY is an open buy trade from 109.87 with a 30 pip stop loss and 100 pip take profit. For the US GDP data out at 20:30 GMT+8 is likely a bullish economic event for the DXY with expectations indicating a strong QoQ result for Q2.
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