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GBP/USD went into range mode this evening after the strong move due to U.S. Treasury Secretary Snow leaving his position. Traders are sitting on the sidelines waiting for a catalyst now and hopefully we can find one with the GfK Consumer Confidence report later. It’s consensus number is inline with the previous at -4, so a surprise may be enough to hit our entry points and targets.

Long GBP/USD at 1.8853, stop at 1.8833, pt1 at 1.8872, pt2 at 1.8900

Short GBP/USD at 1.8782, stop at 1.8812, pt1 at 1.8762, pt2 at 1.8725

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.