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Collins: GBPUSD to rise even higher
Alan Collins from 3c Analysis is looking for higher levels from GBPUSD after prices climbed to their highest peak since October 2008. Earlier in the week, investors sold the currency pair as prices hit USD 1.700 - an important psychological level. However hesitation amongst bullish traders appears minimal as buyers have since re-entered the market pushing prices up further. Levels are in the upper range of both the daily & weekly Keltner channels. Alan cautions that overbought extremes are a slight concern in this market. He's targeting USD 1.7104 and USD 1.7145 in the next few days and plans to enter the trade on a possible dip to USD 1.7020 or USD 1.7030. Disclaimer Saxo Bank Group provides an execution-only service. All information provided on Tradingfloor.com is solely for general information. Tradingfloor.com does not contain (and should not be construed as containing) financial, investment, tax or trading advice or advice of any sort offered, recommended or endorsed by Saxo Bank Group and should not be construed as a record of our trading prices, or as an offer, incentive or solicitation for the subscription, sale or purchase in any financial instrument. Saxo Bank Group will not be liable for any losses that you may sustain as a result of any investment decision made in reliance on information which is available as part of the Tradingfloor.com or as a result of the use of the Tradingfloor.com. Please read our notification on
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