GBPUSD tracking Keltner channel higher
In line with yesterday's positive forecast, Monday’s minor setback for GBPUSD was aggressively regained.
The renewal of investor demand emphasised the importance of Friday’s Marabuzo line and CABLE traded to new 12 month highs.
Signals for sentiment are again overbought but the market is hugging the top band of a rising Keltner channel. We look for the topside to continue to develop.
Management and risk description
A move to 1.3331 means the stop can be raised to break even or better.
Entry: Buy in 1.3300/05 area and any 1.3277 dip
Stop: 1.3234 offered
Target: 1.3331, 1.3361 and 1.3392
Time horizon: intraday, ending 1500 GMT
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