SaxoTV

Collins: Selling GBPUSD

585 views
May 27, 2015 alan collins, alan collins 3c analysis, cable, cable dollar, collins', dollar, gbp, gbp usd, gbpusd, gbpusd trade idea, saxo, saxo bank, saxo bank forex, saxo bank group, saxo bank saxo tv, saxo bank trading, saxo bank trading floor, saxo bank tradingfloor.com, saxo bank tv, saxo capital markets, saxo traders, saxo trading, saxo tv, saxo tv saxo bank, saxo tv trades, saxo tv trading, saxo tv trading floor, saxo tv tradingfloor, saxo tv tradingfloor.com, saxobank, saxobank.com, saxotrader, saxotv, sterling, sterling dollar, trade, trade idea, trade ideas, trade view, trader, traders, traders tale, traders tale alan collins, traders tale saxo tv, trades, trading, trading currencies, trading floor, trading floor saxo tv, trading forex, trading fx, trading idea, trading platform, trading risks, trading strategy, trading tips, tradingfloor, tradingfloor saxo bank, tradingfloor saxo tv, tradingfloor.com, tradingfloor.com insights, tradingfloor.com saxo tv, tradingfloor.com trade ideas, tradingfloorcom, usd
While positive on GBPUSD in the medium term, Alan Collins is looking to sell in the short term as he believes the current corrective decline will deepen for three reasons.

First of all, last week’s strong move lower of almost 3 big figures created a bearish piercing pattern on weekly candle charts. Secondly, the daily Keltner channel peaked at last week's high and is now showing a negative trend. And finally, last Friday the pair closed marginally below the 13-day moving average with yesterday's decline sustaining that break and emphasising the bearish tone.

Collins is looking to sell at the 1.5425.

His targets are to 1.5384, 1.5354 and 1.5295

The stop is currently assessed as above 1.5477