Day trade
Trade view / 16 August 2016 at 6:00 GMT

GBPUSD view looks weak despite Asian rally

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

Cable posted its third down day in a row and the eighth from the last nine days yesterday.

This move took prices to the most negative levels traded for five weeks, to our first downside target and to the lower end of a falling Keltner channel.

The speed and scope of recent moves means immediate signals for sentiment are oversold but there is no sign yet of anything other than temporary profit taking from the Asian bounce.

Management and risk description

A move to 1.2877 means the stop can be lowered to break even or better.


Entry: Sell in 1.2920/25 area and any rally to 1.2946

Stop: 1.2978 bid

Target: 1.2877, 1.2851 or even 1.2817

Time horizon: Intraday, ending London 4pm

Five week lows
5 Week Lows
 Asian bounce
Asian Bounce
 Long term
Long Term
Source: All charts from CQG

— Edited by Adam Courtenay

Non-independent investment research disclaimer applies. Read more
marran marran
do you still see this move as profit taking Alan? im thinking its only a temporary bounce
AlanCollins AlanCollins
so far, yes. Obviously extended a bit higher than assessed but the uncertainty surrounding sterling hasn't disolved. A daily close abv 1.3042 would concern me though


The Saxo Bank Group entities each provide execution-only service and access to permitting a person to view and/or use content available on or via the website is not intended to and does not change or expand on this. Such access and use are at all times subject to (i) The Terms of Use; (ii) Full Disclaimer; (iii) The Risk Warning; (iv) the Rules of Engagement and (v) Notices applying to and/or its content in addition (where relevant) to the terms governing the use of hyperlinks on the website of a member of the Saxo Bank Group by which access to is gained. Such content is therefore provided as no more than information. In particular no advice is intended to be provided or to be relied on as provided nor endorsed by any Saxo Bank Group entity; nor is it to be construed as solicitation or an incentive provided to subscribe for or sell or purchase any financial instrument. All trading or investments you make must be pursuant to your own unprompted and informed self-directed decision. As such no Saxo Bank Group entity will have or be liable for any losses that you may sustain as a result of any investment decision made in reliance on information which is available on or as a result of the use of the Orders given and trades effected are deemed intended to be given or effected for the account of the customer with the Saxo Bank Group entity operating in the jurisdiction in which the customer resides and/or with whom the customer opened and maintains his/her trading account. When trading through your contracting Saxo Bank Group entity will be the counterparty to any trading entered into by you. does not contain (and should not be construed as containing) financial, investment, tax or trading advice or advice of any sort offered, recommended or endorsed by Saxo Bank Group and should not be construed as a record of ourtrading prices, or as an offer, incentive or solicitation for the subscription, sale or purchase in any financial instrument. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, would be considered as a marketing communication under relevant laws. Please read our disclaimers:
- Notification on Non-Independent Invetment Research
- Full disclaimer
- 沪ICP备13028953号-1

Check your inbox for a mail from us to fully activate your profile. No mail? Have us re-send your verification mail