Morgan Stanley: sell GBP/USD
Friday, November 30, 2012 - 10:39
GBP/USD returned into the consolidation phase after having tested $1.6060 earlier in the day (50-day MA). The pair remains slightly above the upper boundary of a bearish channel.
Analysts at Morgan Stanley recommend selling GBP/USD at current levels, targeting $1.5770 and with a stop at $1.6150. In their view, cable gains are unsustainable as UK economy is negatively impacted by European slowdown.
Chart. Daily GBP/USD
http://www.fbs.com/analytics/2012-11...ey-sell-gbpusd
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