Following my post yesterday, "Possible Cable Long" price has reacted a little quicker than I expected. Initial level of resistance already breached circa 1.5760 and may be a good area to take profit of at least 100 pips. Next target is just below 1.5800 where we need to reconsider overall bias. Nice trade nonetheless. Press play on previous post for the full move.
The bottom of the Ichimoku cloud provided support for the weekend's EUR selloff. the previous upward trendline support is now providing short term resistance. Prefer to stand aside for now.
Cable may be a good buy around the 1.5650 area of support illustrated by the blue line. Has gapped down at the open following the larger Greek led EUR moves. MACD trend line still in tact for now. May be a good long over a few days with a tight stop in place. Safer play than EUR crosses.