GBPUSD - Buy at 1.4225 and 1.4196 (Stop 1.4161)

FX:GBPUSD   British Pound / U.S. Dollar
Our first bullish weekly target was met yesterday as last week's rise extended. CABLE was bought to the most positive levels traded for 8 week and although the speed and scope of recent gains means signals for sentiment are overbought, there is no sign yet of anything other than temporary profit taking. In view of this, Tuesday’s call is a Buy at 1.4225 but leaving room to also Buy any Dip to 1.4196. The risk is 1.4161 with an immediate target of 1.4251. A move through that point then exposes sentiment to 1.4279, the 8 week high, or even 1.4311.


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