Day trade
Trade view / 23 August 2016 at 5:59 GMT

GBPUSD: Key average acts as a bullish platform

Partner at 3 C ANALYSIS / 3cAnalysis
United Kingdom

The recent fluctuation around the 13 Day Moving Average for GBPUSD was the reason that this week's sentiment was not clear.

This situation has yet to be resolved. Although cable attracted buyers above 1.3000 again, the resulting bounce was not extensive enough to regain Friday’s entire decline.

This price action keeps prices around the average and does not provide strong signals for sentiment but we look for the topside to develop.

Management and risk description

A move to 1.3186 means the stop can be raised to break even


Entry: Buy in 1.3155/60 area and any 1.3121 dip.

Stop: 1.3082 offered.

Target: 1.3186, 1.3217 or even 1.3252.

Time horizon: Intraday, ends London time 1600 (1500 GMT).

Around average
Around Average

 Buyers above 1.3000
Buyers Above 1.3000

 Long term
Long Term
All charts: CQG

— Edited by Adam Courtenay

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Non-independent investment research disclaimer applies. Read more
23 August
sinesio miranda sinesio miranda
i like this trade thanks..
23 August
AlanCollins AlanCollins
Through the 1.3186 target so stop to break even. At 1.3217 the stop could be moved to 1.3190


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