Day trade
Trade view / 13 February 2018 at 7:10 GMT

Bearish weekly Evening Star points lower for GBPUSD

Partner at 3 C ANALYSIS / 3cAnalysis
United Kingdom
Instrument: GBPUSD
Price target: 1.3765
Market price: 1.3855

Trading in cable on Monday was muted. A range of 80 pips kept the currency pair tightly inside Friday’s parameters. This indecisive "inside" day clearly shows some uncertainty but it is the lack of a positive rebound that emphasises the undertone remains negative after last week's completion of a bearish Evening Star pattern, with the downside expected to develop to reflect that negative formation.

Management and risk description

A move to 1.3832 means the stop can be lowered to break even.


Entry: sell in 1.3860/65 area and at 1.3876.

Stop: 1.3920 bid.

Target: 1.3832, 1.3796 and 1.3765.

Time horizon: intraday, closing 1600 GMT.

Sold at average
Sold at Average
Bearish Evening Star
Bearish Evening Star

Long term
Long Term
Source: all charts CQG. Create your own charts with SaxoTrader; click here to learn more 

— Edited by Gayle Bryant

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Non-independent investment research disclaimer applies. Read more
A compiled overview of Trade Views provided on is found here
13 February
alki alki
Good morning Alan. We also have inflation figures in 1 hr. Quite risky...
13 February
Alan M Alan M
Agree the report is a risky one, but the pressure has been on the pound the last few sessions, going dip a toe on this one, see how it goes before the report
13 February
Alan M Alan M
I tried to be smart, and got stopped out right on the high of that spike, I seem to have the ability to put stops in the worst possible places ha
13 February
AlanCollins AlanCollins
Think it's risk levels that are the most difficult thing to determine currently.
13 February
Alan M Alan M
Thats the way it goes, thanks for the trade though, 2nd opinion is always great for some clarity!
13 February
Cesime Cesime
GM Alan I have e pending at 1,3965 if it triggers
13 February
marran marran
not looking like this is heading the way we wanted, im still in and im going hold on for a bit longer
13 February
Alan M Alan M
Talk of a suspicious package at UK parliament now, could be something to do with the weakness we are seeing


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