Forex Analysis : GBP/USD

Sterling closed not too far below a key resistance level at 1.6270 or so, but a breakout here and a subsequent spike of 200 pips might have to wait a while longer

Trade View
• It’s easy to imagine more pain for holders of US Dollars early this week, but be cautions, and in the case of Cable, we mean a breakout move at 1.6270 might have to wait, and instead of moving north with continued bullish intentions, the perverse FX market will in fact do the opposite with a resulting pullback  to 1.5860-1.5900
• There is initial support at 1.6060 then 1.6030, so if long and it bounces a  tad from open, it might be worth to take profits or even reverse VST positions.
• We wonder, is civil war in Yemen (seems increasing likely) enough for Brent to spike to U$ 123-125 this time?

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: