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1 Apr 2015
GBP/USD a sell below 1.4800 – CharmerCharts
FXStreet (Barcelona) - Carol Harmer of CharmerCharts, suggests selling any GBP/USD short-term strength, expecting a break below 1.4800 to make way for 1.4750.
Key Quotes
“Cable bounded back and nearly reached 1.4880 target hitting 1.4874 twice...We also now have bearish sort term stochastics...therefore a move to the downside should be the way it goes today.”
“Look to sell into any short term strength back to the 1.4870/80 area, keeping stops above 1.4920...Hold shorts and cover to 1.4835/30.”
“Look to re-sell below 1.4800 as a loss of this support keeps the pressure to the downside for 1.4750 once more...Again look to cover shorts.”
“Re-sell below 1.4750 as further selling pressure would be evident then and we could well see the market react lower with 1.4690/85 the short term objective.”
“Now above 1.4920 we see the market coming back towards 1.4990 where once more we look to instate shorts”
Key Quotes
“Cable bounded back and nearly reached 1.4880 target hitting 1.4874 twice...We also now have bearish sort term stochastics...therefore a move to the downside should be the way it goes today.”
“Look to sell into any short term strength back to the 1.4870/80 area, keeping stops above 1.4920...Hold shorts and cover to 1.4835/30.”
“Look to re-sell below 1.4800 as a loss of this support keeps the pressure to the downside for 1.4750 once more...Again look to cover shorts.”
“Re-sell below 1.4750 as further selling pressure would be evident then and we could well see the market react lower with 1.4690/85 the short term objective.”
“Now above 1.4920 we see the market coming back towards 1.4990 where once more we look to instate shorts”