5 Jun 2015
Sell GBP/USD, target 1.5100 - BofA
FXStreet (Bali) - MacNeil Curry, CFA, CMT, recommends to sell GBP/USD at 1.5369, target 1.5100, stop loss at 1.5448.
Key Quotes
"The corrective nature of the rally from the 100d, at 1.5171, and the potential for an impulsive decline from the 1.5815 high of May-14, says that the long-term downtrend remains intact and is about to resume toward 1.4565."
"Indeed, while slightly shorter term than our usual trade recommendations, there is an excellent opportunity to sell £/$ at current levels (now 1.5369), target 1.5100 and risking 1.5448."
Key Quotes
"The corrective nature of the rally from the 100d, at 1.5171, and the potential for an impulsive decline from the 1.5815 high of May-14, says that the long-term downtrend remains intact and is about to resume toward 1.4565."
"Indeed, while slightly shorter term than our usual trade recommendations, there is an excellent opportunity to sell £/$ at current levels (now 1.5369), target 1.5100 and risking 1.5448."