Day trade
/
Buy
Trade view / 13 April 2018 at 6:49 GMT

GBPUSD – Buying has resumed and is set to continue

Partner at 3 C ANALYSIS / 3cAnalysis
United Kingdom
Price target: 1.4322
Market price: 1.4233
Background

Yesterday's temporarily bearish bias had some success, but the underlying tone was emphasised as profit taking attracted fresh investor demand for cable. This fresh upside accelerated in the latter part of the day, driving the market to the highest levels traded for two months and to our second weekly objective. Overbought sentiment remains a concern but we look for reactions to remain temporary and buying interest to build.

Management and risk description

A move to 1.4255 means the stop can be raised to break even.

Parameters

Entry: Buy in 1.4225-30 area and any 1.4200 dip

Stop: 1.4170 offered

Target: 1.4255, 1.4279 or even 1.4322.

Time horizon: intraday, closing 16:00 BST

Buying Renewed
Buying Renewed
 Limited Setback
Limted Setback
 Long Term
Long Term
 
All charts from CQG


— Edited by Clare MacCarthy

Non-independent investment research disclaimer applies. Read more
A compiled overview of Trade Views provided on TradingFloor.com is found here
13 April
JVKNL JVKNL
Hey Alan, still wait for 1,422?
13 April
AlanCollins AlanCollins
No. move already happened and near 2nd target so wouldn't get involved at these levels
13 April
obikobi obikobi
Hi Alan, could we look at EUR/USD aswell?
13 April
AlanCollins AlanCollins
sorry. only place one trade idea per day on here - although FYG I had no firm idea on that this morning. Action in GBP mainly. Have a great weekend.
13 April
JVKNL JVKNL
Ok, thanks for advise
14 April
anatolyvyacheslavoil anatolyvyacheslavoil
This comment has been redacted

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