16th March 2015 – Technical Outlook


FROM HERE: Looking very bearish, sell at resistance below to target below 0.7560 (timing unsure)

BUT: major resistance is at 0.7730-40 area . Ideal level to go short with tight stops.

COMMENT: Probably won’t mention “retracement” until 0.7740 breaks on top. Looking very bearish indeed.



FROM HERE: play the range 120.45 to 122.00 with upside bias.

BUT: square up and re-assess if the range is broken. How and when it is broken will help with direction and strength of next move.

COMMENT: at this point, looks like the pair is creeping up ever so slowly to make new year’s highs.



FROM HERE: sell around 1.0490 to target 1.0330 then 1.0200 (may happen this week)

BUT: square up and re-assess if 1.0520 breaks on upside because not sure to short at this level or reverse at this point

COMMENT: Looking very bearish and on track to attend the ‘parity party’



FROM HERE: remain short and sell around 1.4800 to target 1.4700 and lower

BUT: square all position and re-assess if 1.4850 breaks. Possibly reverse and go long but need see how it is broken first.

COMMENT: Wouldn’t want to guess where the bottom is for GBP/USD. Trail your stops to lock in profits.



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