GBP/USD - Rallies capped by Key Average

Alan Collins 3cAnalysis

An initial rise yesterday (to our sell at 1.3017 point) was strongly overturned. The subsequent fall of almost a big figure confirmed the daily and weekly outlook – taking CABLE to 9 week lows. The scope of the decline during April means signals for sentiment are oversold and a positive reaction is probable. Nonetheless such a rally is expected to be limited and so this morning’s call is a Sell but leaving room to also Sell at 1.2964. The risk is 1.2997 with downside objectives at 1.2910, 1.2891, the 9 week low, or even 1.2856.

Below Averages

GBPUSD Current Trading Positions

Sell 75%

Buy 25%

Avg Sell Price 2166.4222

Avg Buy Price 1.3030

Liquidity Distribution

Author

Alan Collins

3cAnalysis

Alan has been involved in the financial markets for more than 30-years.

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