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Long

Cable trades higher on anti brexit chat,good to go long

FX:GBPUSD   British Pound/U.S. Dollar
208 0 8
Major resistance – 1.4515 (Mar 18th 2016)

Major support – 1.4450 (resistance turned into support)

Cable has broken major resistance 1.4515 and jumped till 1.45464 at the time of writing. It is currently trading at 1.4535.

Short term trend is bullish as long as support 1.4450 holds. On the higher side major resistance is around 1.4550 and break above targets 1.4580/1.463/1.4660 levels.

Cable jumps well above 1.4500 after new polls showing that support for the Brexit plunged to 29% from previous 34%.

The pair is trading well above 21 W MA and is expected to reach 1.4600/1.4660 in short term.

On the lower side minor support is around 1.4500 and break below targets 1.4450/1.4400 level.

It is good to buy at dips around 1.4535-40 with SL around 1.4495 for the TP of 1.4600/1.4660
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