Published On: Thu, Apr 27th, 2017

Watch for gradual upside improvement for GBPUSD

InstaForex

Day trade

/

Buy

Trade view / 11 hours ago

Partner at 3 C ANALYSIS / 3cAnalysis

United Kingdom

Instrument:GBPUSD

Price target:1.2961

Market price:1.2870

Background


Yesterday’s bullish call, as published on these pages, was modestly successful in dull trading. A late spike higher yielded our first daily and weekly objective, although this was still short of Monday’s Asian high and it was not maintained.

Overall there was only minor movement in Cable and so signals for sentiment going into Thursday cannot be strong. Nonetheless investor interest in buying setbacks remains in the background and especially so after Asian gains, and we look for the topside to continue to develop.

Management and risk description

A move to 1.2905 means the stop can be raised to break even.

Parameters

Entry: Buy in 1.2860/65 area and at 1.2836.

Stop: 1.2796 offered.

Target: 1.2905, 1.2924 and 1.2961.

Time horizon: Intraday, ending 1500 GMT.

Consolidation

Gradual gains

Long-term trend

All charts from CQG. Create your own charts with SaxoTrader; click here to learn more.
For more on forex, click here.

— Edited by Robert Ryan

Non-independent investment research disclaimer applies. Read more
A compiled overview of Trade Views provided on TradingFloor.com is found here

Feed for all trade views

Leave a comment

XHTML: You can use these html tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>