Cable bullish outlook

110 0 6
2 months ago
GBP/USD             broke its downward trendline since Brexit. The fact that there was a big swing failure where price recovered very fast and it held support around the 1.2382 area and bounced off the upward trendline gives us the conviction for an upward movement. First resistance comes in the 1.2793 - 1.2936 area ( rectangle )
2 months ago
Comment: Excellent Risk/Reward opportunity for longs
2 months ago
Comment: Needs to hold these levels. Currently on the trendline
2 months ago
Comment: Broke the Trendline. A close below scraps the idea. Previous swing lows around 1.2360 key
2 months ago
Comment: Closing in on key area. Through those lows and bullish outlook is scrapped
2 months ago
Comment: Lows held for now as buyers defended the key 1.2360 area. Need to get back into the trendline if the move higher is to continue. Lots of shorts accumulated so if we can get back up through highs the move up should be sharp
2 months ago
Comment: We got some closes under the Trendline but support held for now. As long as the 1.2360 area hold we could still see a move higher
2 months ago
Comment: Support still holding this. Previous lows the line in the sand
2 months ago
Trade closed: stop reached: Support broken. A close below and sellers in control
Disclaimer: Ideas and reports for educational purposes only. Not investment advice.

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