The British pound at first pulled back during the Monday trading session but then turned around to try to take off above the 1.40 level. Eventually, this is a market that is getting a little bit ahead of itself, so I do like the idea of finding bits and pieces of value on pullbacks. At this point, the market is likely to break back below the 1.40 level again, where it will find buyers entering the market. On the downside, it is possible that the market could reach to the 1.39 level, and then again at the 1.3750 level.
The GBPUSD pair provided clear positive trades to approach 1.4100 level, reinforcing the expectations of continuing the main bullish trend, which targets 1.4200 as a next main station.
Today, the UK Claimant Count Change will be released which is the change in the number of people claiming unemployment-related benefits during the previous month.
The expected trend for today is Bullish and the expected trading range for today is between 1.4000 support and 1.4170 resistance.
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