ridethepig

Cable morning chart update

Short
FOREXCOM:GBPUSD   British Pound / U.S. Dollar
After clearing our first targets on the test of 1.310 area prices have bounced and we are witnessing some nice profit taking. Here we can be clear, a decline through the most recent lows will open up the leg for a deeper setback towards 1.28 and 1.24.

The new season of the Brexit drama is kickstarting next week, the underlying economic remain the same and here expecting a Hard Brexit as the final outcome.

Technically speaking for those looking to trade the entire swing, a decline through 1.24 will open up a test of the key support from the BoE at 1.21.

Lets see how it goes.
Trade closed: target reached

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