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Clive Lambert - FuturesTechs
Clive Lambert of FuturesTechs explains why he is selling AUDUSD. 0.7455 and 0.7470 are Lambert’s early candidates for a sell order, working a stop above yesterday’s 0.7518 high.
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:
Background

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.

Parameters

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
16 August
marran marran
do you still see this move as profit taking Alan? im thinking its only a temporary bounce
16 August
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

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