I'm waiting for the breakout.
Any break will open the door for further downside.
And a bounce is a chance to buy in dip.
Indeed, BUY or SELL : the rate is 50/50
Grexit, Strong Dollar post the risk to Cable.
But the hope for rate hike supports Cable.
While is not obvious.
1.5900 is 50% Fib retracement : the long term retracement.
Cable bounced from the strong resistance: 1.5900, the bounce from the strong resistance post the risk for downside.
SMA200 stands at Kumo cloud: This is a strong support: 1.5400
However, the break the could wipe out the support 1.5400
- cut the signal in the indicator.
In short, I wait for the break to enter the SHORT position.
The test around the will open the chance for a reasonable position.
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