GBP/USD: Looking For Selling Opportunity At 1.6955/60
Jason Sen | Aug 06, 2014 03:52AM ET
The GBP/USD tried to reach our selling opportunity at 1.6900/05 yesterday topping at 1.6888. Again today we can exit longs and try shorts with stops above 1.6930. Look for the next selling opportunity at 1.6955/60, with stops above 1.6985.
Today's outlook is still quite negative with a 1 month bear trend well established. Failure to beat 1.6900 keeps the market under pressure for 1.6865 and possibly 1.6835. Below here a retest of 1.6810/00 lows. Below here the outlook remains negative and risks a move towards 1.6785/80 then 1.6740/30 before May/June lows at 1.6695/90 this week.
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