GBP/USD – 1.3143
Sell at 1.3315, Target: 1.3215, Stop: 1.3350
Position : –
Target : –
Stop : –
New strategy :
Sell at 1.3200, Target: 1.3100, Stop: 1.3235
Position : –
Target : –
Stop : –
Cable’s intra-day selloff below support at 1.3175 signals top is formed at 1.3265 earlier today in Asia and consolidation with downside bias is seen for weakness to 1.3100-10, however, break there is needed to retain bearishness and signal the rebound from 1.3027 has ended at 1.3265, bring further fall towards 1.3070-75 first.
In view of this, we are looking to sell cable on recovery as 1.3200 should limit upside. Above 1.3225-30 would risk a stronger rebound to 1.3250 but said intra-day high at 1.3265 should remain intact and bring another leg of decline later today or tomorrow.
