GBP/USD Update
GBP/USD intraday: the downside prevails.
Pivot: 1.5750.
Our preference: SHORT positions @ 1.574 with targets @ 1.567 & 1.5635.
Alternative scenario: The upside penetration of 1.575 will call for 1.579 & 1.582.
Comment: the pair is posting a rebound but remains capped by a declining trend line as the RSI lacks upward momentum around its neutral area.
Opinion published is an intraday view. Green Lines Represent Resistance | Red Represent Support Levels | Light Blue is a Pivot Point | Black represents the price when the report was produced
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Shayne Heffernan oversees the management of funds for institutions and high net worth individuals. He is also an active consultant working with Corporations around the World.
He is recognized as one of the leading Economists in South East Asia, as well as the preeminent authority on ASEAN. His opinions and forecasts are widely read by decision makers in the region and Internationally.
Shayne Heffernan holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reached a peak of $15b. He has managed and overseen start ups in Mining, Shipping, Technology and Financial Services.
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