SaxoTV

Coleman: Cable losses to extend

366 views
November 17, 2015 'gb, fed, for, ford, forecast, forecasts, foreign exchange, foreign exchange market, foreign exchange market stock, foreign exchange strategy, foreign exhcange, foreign investors, foreign reserves, foreignexchange, forex, forex 2014, forex 2014 outlook, forex 2015, forex 2015 outlook, forex and more, forex aud, forex audusd, forex audusd short, forex buying, forex dealers, forex eurgbp, forex eurjpy, forex eurusd, forex exchange, forex gbpeur, forex gbpusd, forex idea, forex market, forex market overview, forex markets, forex saxo bank, forex selling, forex strategy, forex swiss, forex trade, forex trade idea, forex trade ideas, forex trading, forex trading 2013, forex trading 2014, forex trading 2015, forex usdcad, forex usdchf, forex usdjpy, forex.com, forexforex, forextrading, formación, formation, forreign exchange, forward guidance, fx, fx forex, fx market, fx markets, fx strategy, fx trade, fx trade idea, fx trading, gb, gb levels', gbgb, gbgbgb, gbp, gbp eur, gbp falling, gbp trading, gbp trading 2014, gbp trading 2015, gbp usd, gbp usdg, gbp weakening, gbpchf, gbpchf november 2008, gbpeur, gbpeur 2014, gbpjpy, gbpusd, gbpusd 1.7, gbpusd 1.70, gbpusd 2008 october high, gbpusd 2014, gbpusd five year high, gbpusd labour day, gbpusd oct 2008 high, gbpusd record high, gbpusd trade idea, gold, inflation, inflation rate, inflation rates, inflation report, inflation target, oro, saxo tv, tradingfloor.com
Ian Coleman believes bearish signals in GBPUSD will lead to further losses despite three days of net gains.

The rally stalled at bespoke resistance at 1.5260. Continued downward momentum from 1.5265 resulted in the pair posting net daily losses yesterday. Ian notes that: "The Marabuzo resistance is located at 1.5245 half net gains from 1.5446 to 1.5045 and we closed below. Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 1.5195, resulting in improved risk/reward."
 
6 hour chart posted an Outside Bar, 4 and 2 hour chart, Doji candles (from the high)
 
Sell at 1.5195 

Stop:1.5225
 
Targets: 1.5140 and 1.5060.