6:32 PM
AGHA
Alright guys, we're back! It's true when our teacher said "don't forget the history." Last month, we'd learned the EUR/USD historical data. Now, we go to GBP/USD. GBP/USD is widely known as one of the biggest currency pair in the world that it requires your complete attention.
We know that currently GBP/USD is moving higher from day to day due to bad weather in USD. It's a good chance for you to open a buy position. It's all started before the storm struck US in the end of 2013. GBP/USD was at 1.6009 in October last year. Now, we can see there's a significant improvement; GBP/USD is 1.6685 now. You can imagine how many pips you can gain.
History is still history. Some traders believe in price cycle, so do I. We do have to be aware of this. Besides the economic calendar (the schedule of a periodic economic data release), war, natural disaster, election, expectation, etc. surely affect the movement of a pair. We can't just rely on technical analysis. There are greater conditions out there, such as fundamental condition of a country, that can change the position of the pair; anytime and anywhere.
So, what is your prediction for GBP/USD closing price in the end of this year?
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