I went short of sterling/US dollar at $1.5350 and remain a bear, says Matt Shaw at www.financialtrading.co.
I don't see the price getting anywhere near to the first obvious recovery target at $1.5505 in the next couple of weeks. Instead, I expect a drop through $1.4950, and I intend to take profits at $1.4650. Failing a breach of $1.4950 by 10 March, I may exit my short and reverse into a long position above $1.5200.
