Cable breaks major trend line resistance, targets 1.4500
Major resistance - 1.4370 (trend line resistance 1.45145 and 1.44590)
Cable break major resistance yesterday and closed well above that level. It is currently trading around 1.4400.
Minor trend is slightly bullish as long as support 1.4350 (7 day EMA) holds.
Any break below 1.4350 will drag the pair to next level till 1.4300/1.4260. On the higher side major resistance is around 1.4430 and break above targets 1.4460/1.45150 in short term.
Overall bullish invalidation only below 1.4000.
It is good to buy at dips around 1.4400 with SL around 1.4350 for the TP of 1.4460/1.4500
Cable break major resistance yesterday and closed well above that level. It is currently trading around 1.4400.
Minor trend is slightly bullish as long as support 1.4350 (7 day EMA) holds.
Any break below 1.4350 will drag the pair to next level till 1.4300/1.4260. On the higher side major resistance is around 1.4430 and break above targets 1.4460/1.45150 in short term.
Overall bullish invalidation only below 1.4000.
It is good to buy at dips around 1.4400 with SL around 1.4350 for the TP of 1.4460/1.4500