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 / 14 July 2016 at 6:06 GMT

GBPUSD shows mildly negative signals

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

The rally from this month’s low stalled yesterday. Levels above the key 13-day moving average attracted selling interest. This reversed initial upside with the market closing near the lows. This bearishness – the rally failing also near a 25% correction point – is diluted, to a degree, by a failure to breach a Marabuzo line created by Tuesday’s improvement. But while this does encourage caution, our signals for sentiment are left mildly negative.

Management and risk description

A move to 1.3161 means the stop can be lowered to break even or better.


Entry: sell in 1.3200/05 area and any rally to 1.3230.

Stop: 1.3274 bid.

Target: 1.3161 and 1.3121.

Time horizon: intraday, (1600 London time).

Average caps
Average Caps
25% caps
25% Caps
Long term
Long Term
 Source: all charts CQG. Create your own charts with SaxoTrader; click here to learn more 

— Edited by Gayle Bryant

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Non-independent investment research disclaimer applies. Read more
andywielkiszu andywielkiszu
nice call
svoktem svoktem
It looked trying to establish a Cup formation in H4 graphs to me
E.B.Babu E.B.Babu
AG11406 AG11406
stop loss hit?
Steblaj Steblaj
he is looking at the 6:15 spike...
vyacheslav111 vyacheslav111
Hi ! Your opinion on GBPUSD now ?
Vakas Vakas
I think gbpusd is a buy at market now for 1.35000 and stop below 1.32700


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