Day trade
/
Buy
Trade view / 16 February 2018 at 8:05 GMT

No clear indication that GBPUSD rally is over

Analyst / PIA First
United Kingdom
Instrument: GBPUSD
Price target: 1.4180
Market price: 1.4027
Background

There were no significant economic data releases during the day with sterling direction driven primarily by international market moves. UK yields moved higher after a relatively weak gilts auction which underpinned the currency, although yield spreads narrowed slightly later in the day. 

Technical

Continued upward momentum from 1.4017 resulted in the pair posting net daily gains yesterday. Buying was seen in Asia. 
Trading within a Bullish Channel formation. 
Trend line resistance is located at 1.4480. Bespoke resistance is located at 1.4427. 
The 261.8% Fibonacci extension is located at 1.4182 from 1.3764 to 1.3924. 
Preferred trade is to buy on dips. 

GBPUSD four-hour chart:
GBPUSD 4
Source: Saxo Bank

Parameters

Entry: Intraday – we look to buy at 1.4027

Stop: 1.3987

Target: 1.4180 and 1.4275

— Edited by Clare MacCarthy

Non-independent investment research disclaimer applies. Read more
A compiled overview of Trade Views provided on TradingFloor.com is found here
1y
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
day trade idea ...... closed at 9pm
1y
Cesime Cesime
Good morning Ian, login details have been changed
1y
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
??? can you explain please
1y
tonyovsalford tonyovsalford
GM Ian. Hope this cuts it today👍👍
1y
Cesime Cesime
You opened a new chat room so you could answer the auestions, I tried to salute you earlier and would not let me in , so I had to register again and changed password
1y
alki alki
Good morning dear Ian. You probably meant: „Market price 1.4127”.
1y
Cesime Cesime
anyway seems to be ok now
1y
Cat Cat
Do you know what time UK retail sales data comes out?
1y
Cat Cat
Thank you!
1y
sam wightman sam wightman
1.4027 was there yesterday !
1y
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
yes, its now our support
1y
sam wightman sam wightman
okay !, Thank you.
1y
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
in the middle of our indicators (chart attached)
1y
John22 John22
GM Ian any clue for EUR/USD have nice day
1y
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
GM John ... only buying at lot lower

EURUSD - Intraday - We look to Buy at 1.2460 (stop at 1.2430)

4 positive daily performances in succession. Previous resistance level of 1.2537 broken. The rally is close to a correction count on the intraday chart. The 261.8% Fibonacci extension is located at 1.2620 from 1.1554 to 1.1961. Risk/Reward would be poor to call a buy from current levels. Further upside is expected although we prefer to set longs at our bespoke support levels at 1.2560, resulting in improved risk/reward.
Our profit targets will be 1.2620 and 1.2650

Resistance: 1.2620 / 1.2650 / 1.2700
Support: 1.2518 / 1.2458 / 1.2384
1y
John22 John22
thanks very very much,,,
1y
sam wightman sam wightman
Hi Ian
is GPB/USD buy @ 1.4027 still on ?
1y
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
it is still our support yes
1y
Edgaras Edgaras
Ian, have you filled your EUR/USD position?
1y
Edgaras Edgaras
Great, i have jumped in at 1.2450 :)Thank you Ian
1y
Morten Olby Morten Olby
Did you fill GBPUSD yet?
1y
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
Buying has been posted. We now look to adjust the stop to 1.4005 and the 1st target to 1.4073
1y
Morten Olby Morten Olby
Thanks Ian. Have a good weekend when you get there
1y
themis themis
Is the long eurusd to be kept over the weekend pls, Ian?
Otherwise,thanks v m for your inflows and have an enjoyable w/e....
1y
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
nope ... just a day trade idea. have a great weekend all
1y
alki alki
Ian, i owe you a bottle of the finest single malt i can possily find - next time ill be in London buddy .-)
1y
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
now that I will travel for ;-) .... thanks alki ... all the best my friend

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