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Collins: Why I am selling GBPUSD
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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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