Cable take support near trendline, targets 1.5140

FX:GBPUSD   British Pound / U.S. Dollar
440 0 7
Cable has declined till 1.5027 after release of better than expected US Non Farm payroll. It is currently trading around 1.50655.

The pair has taken support near trend line support around 1.5016 ( trend line joining 1.5160 and 1.5105) and slightly recovered from that level.

On the downside any break below 1.5016 will drag the pair down till 1.5000/1.4950 in short term.

The pair's minor resistance is around 1.5090 and break above targets 1.5140/1.5180.

It is good to buy at dips around 1.5060 with SL around 1.5015 for the TP of 1.5140/1.5180

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