Sterling looks to be correcting upwards after becoming very oversold, says Matt Shaw at www.financialtrading.co.
I am looking to get short of the pound once we get back to around $1.5750. If it doesn't even get that far, Id still consider selling a reversal around $1.5650. In either case, I'd be looking for at least 100 pips of profit, with a stop loss of 50 pips. Overall, I am bearish on the pound over the coming weeks.
