Day trade
/
Buy
Trade view / 26 April 2017 at 6:02 GMT

GBPUSD 200-day average to support gains

Partner at 3 C ANALYSIS / 3cAnalysis
United Kingdom
Instrument: GBPUSD
Price target: 1.2905
Market price: 1.2830
Background

Monday's GBPUSD upside failure was not extended yesterday. Overall, Tuesday was the fifth day in a row that saw prices consolidate after last Tuesday's powerful rise. Until last week's peak is broken our signals for sentiment cannot be strongly positive but the limited nature of profit-taking and the support of the 200-day line does place our focus on the topside.

Management and risk description

A move to 1.2869 means the stop can be raised to break even.

Parameters

Entry: Buy in 1.2825/30 area and at 1.2802.

Stop: 1.2772 offered.

Target: 1.2869 and 1.2905.

Time horizon: Intraday, ending 15.00 GMT.

Average supports
Average Supports
 Buyers return
Buyers Return
 Long term
Long Term
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— Edited by Susan McDonald

Non-independent investment research disclaimer applies. Read more

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2y
FBT431 FBT431
Thanks
2y
Mira Mira
GM Alan
2y
yakcay yakcay
Hi Alan. Do you think it is late to enter this trade? How do you see the momentum?
2y
AlanCollins AlanCollins
Holding up reasonably well although momentum very weak. Am holding trade idea as stop in right place but if coming at it fresh would prefer to see an hourly close above 1.2830.
2y
yakcay yakcay
Thank you.
2y
FBT431 FBT431
You mean that target need to change from 1.2869 to 1.2830?
2y
Mira Mira
No, what he mean is that for new entry, wait for price to close above 1.2830. Target remain the same.
2y
yakcay yakcay
Cleared 1.2830. So I'm in...
2y
FBT431 FBT431
Dear Alan any updates about the target? Ending time after 1 hour
2y
AlanCollins AlanCollins
48 would be good level given time frame but, regardless, close at the time specified (imo)
2y
Mira Mira
Closed half @48

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