5 Jun 2015
GBP/USD: excellent sell opportunity – BAML
FXStreet (Barcelona) - According to MacNeil Curry, CFA, CMT, Technical Strategist at BofA-Merrill Lynch, the current levels for GBP/USD remain an excellent sell opportunity for 1.5100.
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.”
“Sell £/$ at market (now 1.5369), target 1.5100, risk 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.”
“Sell £/$ at market (now 1.5369), target 1.5100, risk 1.5448”