See the GBP/USD currency strength trading signals below. These are live trading signals. The British Pound GBP was weak on all pairs so the GBP/USD sold off. This occured after the manufacturing production output news in the main forex trading session. The USD also had some strength, so the GBP/USD sold off. This pair is in a strong down trend, however we are not able to tell exactly where the next major support level is on this pair so we would scale out some lots on any sell trades, and move your stop to break even on the remaining lots.
The trend is strong enough for this pair to continue much lower. The currency strength meter you see below is The Forex Heatmap®, which provides live trading signals for 28 currency pairs. It works well after economic news drivers to show you what pair to trade, we use this indicator to assist with trade entries on 8 different currency groups and 28 pairs including the including the British Pound GBP pairs. As you can see other GBP pairs made strong moves today.
GBP/USD Currency Strength Trading Signals
GBP/USD Currency Strength Trading Chart