Sterling has been blasted lower after BoE governor Carney cast doubt on a previously pretty-much-expected UK May rate hike. The EU's rejection of Britain's latest Brexit-Irish border plan only served to deepen the rot.
Day trade
Trade view / 12 July 2016 at 5:45 GMT

GBPUSD: Asian demand to extend temporarily

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

Confirming the expected negative weekly bias, early selling yielded an important 1.2852 target. But that proved the low as, once again in volatile trading, sentiment turned sharply.

The result was that - for a third day in a row - there was only minor net movement but although this reflects on-going uncertainty the underlying situation is fairly clear and it looks positive for GBP.

Management and risk description

A move above 1.3095 means the stop can be raised to break even.


Entry: Buy in 1.3070/75 area and any dip to 1.3042.

Stop: 1.2998 offered.

Target: 1.3095, 1.3134 or even 1.3155.

Time horizon: Intraday, ending 4pm GMT.

Off the Lows
Off the Lows
 Asian demand
Asian Demand
 Long term
Long Term
Source: All charts from CQG

— Edited by Adam Courtenay

For more on forex click here             

Non-independent investment research disclaimer applies. Read more
brian1983 brian1983
is not the right time to buy GBP now before the BOE event
AlanCollins AlanCollins
TRaded through our first target and so the stop can be raised to break even.
brian1983 brian1983
ya. plan to add short soon
assi assi
Hi Alan, any advice about GBPJPY...?
AVLion AVLion
I need ur advice on gbpjpy as well ....sir
AlanCollins AlanCollins
Today's signals for sentiment in GBPJPY were not clear and we are awaiting clearer indications.


The Saxo Bank Group entities each provide execution-only service and access to permitting a person to view and/or use content available on or via the website is not intended to and does not change or expand on this. Such access and use are at all times subject to (i) The Terms of Use; (ii) Full Disclaimer; (iii) The Risk Warning; (iv) the Rules of Engagement and (v) Notices applying to and/or its content in addition (where relevant) to the terms governing the use of hyperlinks on the website of a member of the Saxo Bank Group by which access to is gained. Such content is therefore provided as no more than information. In particular no advice is intended to be provided or to be relied on as provided nor endorsed by any Saxo Bank Group entity; nor is it to be construed as solicitation or an incentive provided to subscribe for or sell or purchase any financial instrument. All trading or investments you make must be pursuant to your own unprompted and informed self-directed decision. As such no Saxo Bank Group entity will have or be liable for any losses that you may sustain as a result of any investment decision made in reliance on information which is available on or as a result of the use of the Orders given and trades effected are deemed intended to be given or effected for the account of the customer with the Saxo Bank Group entity operating in the jurisdiction in which the customer resides and/or with whom the customer opened and maintains his/her trading account. When trading through your contracting Saxo Bank Group entity will be the counterparty to any trading entered into by you. does not contain (and should not be construed as containing) financial, investment, tax or trading advice or advice of any sort offered, recommended or endorsed by Saxo Bank Group and should not be construed as a record of ourtrading prices, or as an offer, incentive or solicitation for the subscription, sale or purchase in any financial instrument. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, would be considered as a marketing communication under relevant laws. Please read our disclaimers:
- Notification on Non-Independent Invetment Research
- Full disclaimer
- 沪ICP备13028953号-1

Check your inbox for a mail from us to fully activate your profile. No mail? Have us re-send your verification mail