The buying of dropping trades when the equity tight trading stopped is the right move for now. The durable goods are expected to move upside that is much better than what was expected as there was a positive response from the traders on the GDP figures.
Yesterday‘s US figures were very disappointing as the consumer confidence had dropped to 47.7 not good as it was expected to be around 53.5.
USD is again come under pressure and commodity trade was done well yesterday. However, there is one matter of concern regarding the Treasuries and VIX as both of them are trading with highs in the last two days.
Gold is trading with the break point of 1044 that is less than the expectation of 1055 and finally closed at 1039.
With silver trading at 16.55 lower than the target of 16.75 and closed at 16.40. The crude oil trade with 78.50 and the expected outcome is 81 and closed at 77.50.
GBP/USD: The pair has the opening price action at 1.6402, traded with the highs of 1.6438 and the lows of 1.6287 and finally closed at 1.6374.
Yesterday, the pair touched the height of 1.6438 and building the converging trend in the three-hour chart patterns.
Trading range is depicted in between 1.6395 to 1.6320 and the trading trend is moving downward. The pair selling point is at 1.6384 and typical price is at 1.6334.
This is the technical fact about the GBP/USD trade at the Forex trading platform and the reports of the yesterday trading figures and the response of the traders towards the trade.
The article is all about the Forex trading happenings and the trade report of the GBP/USD at the trading window.