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Clive Lambert - FuturesTechs
Clive Lambert of FuturesTechs explains why he is trading gold. He is looking to buy between $1,310/oz - $1,320/oz with a stop at $1,300. His targets are $1,360-1,380. Lambert also looks at a broader trade buying at current levels with a stop at $1,285 and targets of potentially $1,485 and $1,588.
Day trade
Trade view / 15 June 2016 at 11:56 GMT

Sterling's short-term pop

Managing Partner / Spotlight Group
United Kingdom
Instrument: GBPUSD
Price target:
Market price:

Sterling has booked gains against the dollar on Wednesday. Fears that the UK may vote to exit the European Union eased slightly as the lead for the “Leave” campaign was reduced to 3% from 7% yesterday.

There was also comfort from the data that showed the UK unemployment rate fell, while pay growth rose in the three months to April. The Office for National Statistics said the UK unemployment rate fell from 5.1% to 5.0% in the three months to April. 

This was the lowest level in more than a decade.

Average earnings excluding bonuses rose by 2.3% in the three months to April year-over-year, versus expectations for a 2.1% rise and up from 2.2% in the three months to March.

Earnings including bonuses rose by 2.0% on a y/y basis, unchanged from the previous three months. Economists had expected growth of 1.7%.
Source: Spotlight Ideas 
This does look to be a short-term play as the time-based technicals all suggest a strong buy out to the one-hour mark. Afterwards, the longer measures starting with the five-hour signal are calling a strong sell.

Clearly any UK related product is going to require one to be a quick-minded active trader. Ahead of June 23, no position can be taken for anything other than a day trade or short-term.

(Note: I will be away from June 17 to June 26 … so I will not be trading or answering questions)

GBPUSD five-year:
GBPUSD Create your own charts with SaxoTraderGO click here to learn more
Source: Spotlight Ideas

Parameters (GBPUSD)

Entry: buy 1.4195 area.

Targets: 1.4211… 1.4233… 1.4262.

Stop: 1.4120.

Time horizon: day trade

— Edited by Michael McKenna

For more on forex click here.

Non-independent investment research disclaimer applies. Read more
Vakas Vakas
This trade is not too attractive because of its risk to reward ratio
BuySellBuySell BuySellBuySell
Hi Stephen. Is there an easy answer to whether the UK will be economically better off in or out of the Euro zone?
BuySellBuySell BuySellBuySell
It seems that the markets are very clear on the subject. Leaving is bad.
leo_100 leo_100
bad risk to ratio... still went in and got knocked out :) lesson learnt
Stephen Pope Stephen Pope
This trade saw me go long at 1.4195 at 11:24 BST as a Day Trade...i.e. into US trading.

The pair fell to a low of 1.4148 at 18:45 so it did not hit the stop loss at 1.4120. Then GBPUSD rallied to 1.4129 by 21:30 before starting to fall once more. I took a small profit at the first target level of 1.4211 a of 21:35.

I am on vacation tomorrow and will be unable to respond to any questions until June 26th.


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