1 May 2015
Going long on GBP/USD, targeting 1.5540 – Growth Aces
FXStreet (Barcelona) - The Growth Aces Research Team remains bullish on GBP/USD, buying dips for the pair and targeting 1.5540 levels.
Key Quotes
“The GBP fell to a three-week low against the EUR after weak PMI data. We have taken profit on our long EUR/GBP position opened at 0.7170 that reached its target of 0.7350 today. The GBP fell also against the USD, below 1.5300 from 1.5370 before the PMI reading.”
“We have used today's GBP/USD drop to get long at 1.5270, in line with our trading strategy. The target is 1.5540.”
“Resistance: 1.5396 (session high May 1), 1.5492 (high Apr 30), 1.5498 (high Feb 29)”
“Support: 1.5254 (hourly low Apr 28), 1.5174 (low Apr 28), 1.5167 (100-dma)”
“GBP/USD: long at 1.5270, target 1.5540, stop-loss 1.5170, risk factor **”
Key Quotes
“The GBP fell to a three-week low against the EUR after weak PMI data. We have taken profit on our long EUR/GBP position opened at 0.7170 that reached its target of 0.7350 today. The GBP fell also against the USD, below 1.5300 from 1.5370 before the PMI reading.”
“We have used today's GBP/USD drop to get long at 1.5270, in line with our trading strategy. The target is 1.5540.”
“Resistance: 1.5396 (session high May 1), 1.5492 (high Apr 30), 1.5498 (high Feb 29)”
“Support: 1.5254 (hourly low Apr 28), 1.5174 (low Apr 28), 1.5167 (100-dma)”
“GBP/USD: long at 1.5270, target 1.5540, stop-loss 1.5170, risk factor **”