TipTVFinance

GBP/USD - attempting break above 1.4617

FX:GBPUSD   British Pound/U.S. Dollar
Resistance – 1.4617, 1.4669, 1.47

Support – 1.4578, 1.4514, 1.4472

  • Cable made a run at 1.4617 as expected following a break above 1.4578 and is now trading in range of 1.46-1.4610 levels.
  • Pair needs to witness an hourly close above 1.4617, which would add credence to bullish break from rising channel formation. Such a move would expose 1.4669-1.47.
  • However, caution needs to be observed as failure to take out/sustain above 1.4617 could yield 1.4578 under which 1.4533 levels stands exposed.
at R2 WEEKLY pivot,, i would think the banks are not buying at these levels eh.. maybe stop covering?
Reply
Yea, all shorts being squared off as polls suggest 'in' vote in lead. The "undecided" category in this case is more likely to turn towards "in" vote rather than "exit" vote as people prefer status quo when consequences are unclear
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