SaxoTV

Collins: Gains for Cable but watch out there's a referendum about

160 views
September 17, 2014 alan collins, alan collins 3c analysis, dollar, forex, forex idea, forex market, forex market overview, forex markets, forex saxo bank, forex trade idea, forex trading, forex trading 2014, fx, fx crosses, fx gbpusd, fx investing, fx market, fx markets, fx strategy, fx trade, fx trade idea, fx trading, gbp, gbp trading 2014, gbp usd, gbpusd, gbpusd trade idea, saxo bank, saxo bank saxo tv, saxo bank trading floor, saxo bank tradingfloor.com, saxo traders, saxo tv, saxo tv saxo bank, saxo tv trading floor, saxo tv tradingfloor, saxo tv tradingfloor.com, scotland, scotland polls, scotland pound, scotland referendum, scotland vote, scottish, scottish election, scottish independence, scottish news, scottish polls, scottish referendum, scottish vote, sterling, sterling dollar, trade idea, trade view, traders tale, traders tale alan collins, traders tale saxo tv, tradingfloor saxo bank, tradingfloor saxo tv, tradingfloor.com, tradingfloor.com insights, tradingfloor.com saxo tv, usd

Over the last month the pound has fallen 2.5 percent against the dollar. Concerns over rate hikes and the Scottish referendum have created unfavourable market conditions for the pound. Therefore, Alan Collins from 3c Analysis is entering the GBPUSD market cautiously ahead of Thursday’s vote.

Alan is looking for the gains from last week’s lows to continue to rebound throughout the week. In order for this positive sentiment to endure, the key 13 day moving average must be clearly exceeded and the losses created by last week’s open must be recouped. The markets target objective is around the USD 1.6337 or USD 1.6342 mark. A daily close at between these two levels clears a path for Alan’s ideal trade target of USD 1.6466.
A move towards USD 1.6158 would negate this trade with risk being assessed at USD 1.6209.