GBPUSD:
Cable is showing signs of recovery and we are accepting the offer of a nice pips upside.
The pair fell out of the ascending trendline, but the trend is still intact and strong.
We have a mini structure at 1.5444 which was broken today, but the pair have stalled at the significant point 1.5353.
Here (1.5380) we are going long with a stop placed below the low 1.5350
Note: The trend is what we are trading here, after a huge selloff like this it is worth the risk to follow the price from this sort of significant level.
First target = 1.5811 before further advance.
Cable is showing signs of recovery and we are accepting the offer of a nice pips upside.
The pair fell out of the ascending trendline, but the trend is still intact and strong.
We have a mini structure at 1.5444 which was broken today, but the pair have stalled at the significant point 1.5353.
Here (1.5380) we are going long with a stop placed below the low 1.5350
Note: The trend is what we are trading here, after a huge selloff like this it is worth the risk to follow the price from this sort of significant level.
First target = 1.5811 before further advance.