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Collins: Chasing the falling pound
After five consecutive months of downward momentum, Alan
Collins from 3c Analysis believes that the negative trend in GBPUSD will continue
during December. At the moment prices continue to be constrained by the 13 day
moving average, in keeping with Alan’s prediction for lower levels. Although no
clear selling signal has been triggered yet, both the daily and weekly Keltner
channels are negative.
Alan’s bearish view on GBPUSD has him eyeing an immediate
target of USD 1.5651. Additionally, he is targeting USD 1.5625, which he hopes
will renew selling interest towards USD 1.5541. A stop can be placed at USD
1.5732.
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investment research disclaimer
00:54 minutes
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