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28 Jan 2015
GBP/USD might find sellers near 1.5185/95 – AceTrader
FXStreet (Barcelona) - The AceTrader Team sees the 1.5223 top to hold for cable, with offers tipped at 1.5185/95 levels.
Key Quotes
“Cable pares yesterday's rally to a 1-week high of 1.5223 in NY session n retreated from 1.5196 (AUS) to 1.5155 in Asian morning as lack of follow-through buying has led to long liquidation in the pound.”
“Trading in Tuesday's session was tricky as cable briefly tanked from European morning high of 1.5117 to 1.5060 after U.K. prelim. Q4 GDP came in below street forecast.”
“However, intra-day rally in eur/usd ahead of NY open triggered broad-based short-covering in sterling and intra-day gain accelerated once stops above 1.5120 were tripped, cable rallied strongly to 1.5223 after tripping more stops on the way up.”
“Intra-day retreat suggests 1.5223 top would hold from here as offers are tipped at 1.5185/95 and more above with some stops touted above 1.5230. Some bids are noted at 1.5150-40 and more at 1.5120-00 area with stops below there.”
“As no U.K. data are due out today, cable is expected to track intra-day swings in eur/usd.”
Key Quotes
“Cable pares yesterday's rally to a 1-week high of 1.5223 in NY session n retreated from 1.5196 (AUS) to 1.5155 in Asian morning as lack of follow-through buying has led to long liquidation in the pound.”
“Trading in Tuesday's session was tricky as cable briefly tanked from European morning high of 1.5117 to 1.5060 after U.K. prelim. Q4 GDP came in below street forecast.”
“However, intra-day rally in eur/usd ahead of NY open triggered broad-based short-covering in sterling and intra-day gain accelerated once stops above 1.5120 were tripped, cable rallied strongly to 1.5223 after tripping more stops on the way up.”
“Intra-day retreat suggests 1.5223 top would hold from here as offers are tipped at 1.5185/95 and more above with some stops touted above 1.5230. Some bids are noted at 1.5150-40 and more at 1.5120-00 area with stops below there.”
“As no U.K. data are due out today, cable is expected to track intra-day swings in eur/usd.”