Day trade
Trade view / 13 October 2016 at 6:00 GMT

GBPUSD upside failure keeps sentiment negative

Partner at 3 C ANALYSIS / 3cAnalysis
United Kingdom

Asian trading in GBPUSD on Wednesday saw a reaction to Tuesday’s strong decline. But although trading was volatile the market was unable to sustain the extent of that upside, with Europe dominated by a steady, though modest, deterioration in investor sentiment. This, despite minor net gains, reflects an underlying negative bias that is expected to remain the key background element in Cable.

Management and risk description

A move to 1.2160 means the stop can be lowered to break even or better.


Entry: Sell in 1.2190/95 area and any 1.2222 rally.

Stop: 1.2259 bid.

Target: 1.2160 and 1.2125.

Time horizon: Intraday, ending London 4pm.

Reaction from lows
Reaction from Lows
 Highs not held
Highs Rejected
Long Term
 All charts from CQG. Create your own charts with SaxoTrader; click here to learn more

— Edited by Susan McDonald

Non-independent investment research disclaimer applies. Read more


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