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Lambert: Why I’m shorting GBPUSD
Clive Lambert from FutruesTechs sees the dollar’s current
weakness as an opportunity to short GBPUSD. The dollar index hit a one week low
of 97.282 on Thursday after disappointing US economic data. Investors will be
focused on the US consumer inflation report due out later on Friday, which
could suggest a delay in the Fed’s ability to raise rates if this trend of weak
economic data continues. Reflecting this weakness back onto GBPUSD, Clive has
noted a “problematic” resistance area around the 1.4950-1.5000 level and he
aims to sell below 1.4950 with a stop placed above 1.5015. Clive’s three
targets for the trade are: 1.4880, 1.4820, and 1.4720.
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Non-independent
investment research disclaimer
00:34 minutes
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