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

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

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


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