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14 May 2015
GBP/USD remains a buy on dips – CharmerCharts
FXStreet (Barcelona) - Carol Harmer of CharmerCharts, adopts a buy on dips approach for GBP/USD while the pair remains above 1.5695.
Key Quotes
“I think Cable is a little over overdone on the topside so I think unless we break the 1.5775 area we are going to come lower I am looking around the 1.5720/15 area to take profits on short positions...I think that then the market would have eased the short term overbought scenario and then we can trade higher.”
“We can see the Cable is in an uptrend, therefore until something changes I think that we are still going to buy into dips...Obviously the market will have its ups and downs, but it has rallied so strongly this week I feel it is time for a correction.”
“Now as stated e would be buying down to 1.5715..If we lose however 1.5695 we are of longs ad back into shorts for the 1.5665/55 support area”
Key Quotes
“I think Cable is a little over overdone on the topside so I think unless we break the 1.5775 area we are going to come lower I am looking around the 1.5720/15 area to take profits on short positions...I think that then the market would have eased the short term overbought scenario and then we can trade higher.”
“We can see the Cable is in an uptrend, therefore until something changes I think that we are still going to buy into dips...Obviously the market will have its ups and downs, but it has rallied so strongly this week I feel it is time for a correction.”
“Now as stated e would be buying down to 1.5715..If we lose however 1.5695 we are of longs ad back into shorts for the 1.5665/55 support area”