Get started
FxWirePro

Cable faces trendline resistance at 1.55,break above targets1.56

Long
British Pound / U.S. Dollar (FX:GBPUSD)  
FxWirePro  
FX:GBPUSD   British Pound / U.S. Dollar
8
0
GBP/USD is facing trend line resistance around 1.5500 (trend line joining 1.5818 and 1.5658) and nay break above confirms major trend reversal, a jump till 1.5580/1.5600/1.5650 is possible.

On the downside minor support is around 1.5450 and break below targets 1.5400/1.5380.

Overall bullish invalidation only below 1.5320 level.

It is good to buy only above 1.5500 with SL around 1.5450 for the TP of 1.5580/1.5600
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.