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 / 22 September 2016 at 6:58 GMT

GBPUSD – Bullish rally incomplete

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

Asian lows were not held yesterday. But neither were the post Federal Open Market Committee highs with the market posting only a minor net movement – for a third day in a row. This keeps the bounce from 5 week lows limited but fails to deliver a clear renewal of selling pressure, despite a negatively trending Keltner channel. In fact, the rejection of yesterday's lows, coupled with some Asian demand, leaves our signals for sentiment mildly and temporarily  positive.

Management and risk description

A move to 1.3092 means the stop can be raised to break even


Entry: Buy in 1.3050/55 area and any 1.3024 dip

Stop: 1.2989 offered

Target: 1.3092 and 1.3120

Time horizon: Intraday, ending 1500 GMT

Limited Reaction
Limited Reaction
 Off the Lows
Off the Lows
 Long Term
Long Term
All charts from CQG

— Edited by Clare MacCarthy

Non-independent investment research disclaimer applies. Read more
Bullionaire Bullionaire
Hit the first target almost. Booked profits, luckily.
AlanCollins AlanCollins
Little disappointing to get so close to that objective but sometimes you have to be a little creative in position management so Congrats.


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