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Collins: Rising demand for GBPUSD

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Alan Collins from 3c Analysis is looking for demand in GBPUSD to continue. After several months of declines, profit takers have entered the market pushing the currency pair higher. Alan notes that the majority of trading days are marked by minor declines or periods of consolidation, but sentiment is often quickly reversed. With a rising Keltner channel signaling greater demand, Alan is targeting a move to USD 1.5546 and USD 1.5591 with any setbacks limited at USD 1.5454 and USD 1.5418 and more medium-term risk levels set below the 13 day moving average.

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