In this Daily Trade Watch report, we look for high probability trade setups that we can trade throughout the day. Today, we will be looking at GBP strength and more Oil weakness.
GBPUSD
Let’s begin with the British Pound. With the relative wind behind its sales, for the time being anyway, we are looking at the GBPUSD to continue higher but only if we break above yesterday’s high of 1.3060. This is the level which makes this trade a high probability trade to the upside.
Oil
The other market to take a strong look at is the WTI Crude Oil market to the downside. The important level in this market to the downside is a break below, again, yesterday’s low of 62.50. This is also a break below last week’s low and is a new monthly low, so expect continuation lower below 62.50.
GBP Strength and More Oil Weakness – Full Video Analysis
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