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Collins: Why I am selling GBPUSD
Alan Collin from 3c Analysis expects the US Dollar to
continue to strengthen against the pound. After almost 6% growth since the
start of 2015, the dollar index is currently near an 11-year high. Last month,
the pound weakened against the dollar during two weeks of indecisive
performances. Alan states that this reflects a degree of investor indecision in
GBPUSD. Most importantly though, the 13 day moving average has been breached,
signaling further downward pressure. Alan is targeting a move towards USD 1.5311
and USD 1.5247. A stop can be placed at USD 1.5438.
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Non-independent investment research disclaimer
00:50 minutes
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