This is my gbp/usd intraday trading idea based on data from technical analysis resources I mentioned before. I make use the daily pivot data which is written in today’s signal post. However this is different with the free forex signal. So please, don’t confuse both of them.

Mizuho technical analysis:
Market is sideways. Suggested strategy is to attempt long at 1.6590 with first profit target at 1.6800.

Danske technical analysis:
Market is sideways. Suggested strategy is to attempt long if price breaks 1.6730 with first profit target at 1.7235

Ino MarketClub Trend analysis:
A downtrend is underway (score -85)

Sideways market is usually a sign of possibly trend reversal. Based on above data I’m expecting a downtrend.

At the time I write this, gbp/usd price was ranging around 1.6590. It got support at about 1.6674 and resistance at about 1.6514.

My intraday trading idea is to attempt buying (buy stop) at 1.6595 with stop at 1.6514 and profit target at 1.6674 (or probably follow the flow to 1.6800). I will attempt to sell if price breaks 1.6514. The stops will be at 1.6590 and profit target will be at 1.6440 (or probably follow the flow to south).

Please note that this is just a trading idea,  I do not execute  trade solely based on this. I write this in purpose to show you (especially novice traders) about how I make use of the free technical analysis data for my intraday trading.