GBPUSD - We look to Sell at 1.4160 (stop at 1.4195)
GBPUSD - Broke the sequence of 3 positive daily performances. With the Ichimoku cloud resistance above we expect gains to be limited. Selling posted in Asia. The selloff has posted a correction count on the intraday chart. There is scope for mild buying at the open but gains should be limited. Further downside is expected and we prefer to set shorts in early trade. Our profit targets will be 1.4102 and 1.3980.
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Before deciding to invest in spot foreign exchange or futures you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with spot foreign exchange and futures trading, and seek advice from an independent financial advisor (IFA) if you have any doubts. All information posted on this website is of our opinion and the opinion of our visitors, and may not reflect the truth. Please use your own good judgment and seek advice from a qualified consultant or IFA, before believing and accepting any information posted on this website.
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