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In the next couple of trading sessions, traders are expecting a range bound market as there aren’t any significant economic reports to be released until the interest rate statements from the BOE and ECB, and the US Non-Farm Payroll release on Friday. We do have a couple of reports out of the UK that may be significant – Industrial Production and Manufacturing Production – both of which are released at 4:30 am EST.

Both not considered major market movers, but they may cause enough stir to hit a support and resistance point.

Short 1 lot GBP/USD at 1.9820, stop at 1.9860, pt1 at 1.9780, pt2 at 1.9760
Long 1 lot GBP/USD at 1.9660, stop at 1.9620, pt1 at 1.9700, pt2 at 1.9720

Good luck and good trading!

This content is strictly for informational purposes only and does not constitute as investment advice. Trading any financial market involves risk. Please read our Risk Disclosure to make sure you understand the risks involved.