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Add as a preferred source on Google FxWirePro: Buy GBP/USD above 1.2255 Major resistance- 1.2255 (100- HMA and trend line joining 1.23180 and 1.2273). Minor support -1.2200. The pair recovered sharply from the low of 1.2168 and jumped till 1.2255 at the time of writing. It is currently tradi…
By FxWirePro Team Oct 14, 2016, 11:50 AM UTC
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Major resistance- 1.2255 (100- HMA and trend line joining 1.23180 and 1.2273).
Minor support -1.2200.
The pair recovered sharply from the low of 1.2168 and jumped till 1.2255 at the time of writing. It is currently trading around 1.22310.
Cable is facing major resistance at 100-HMA and any violation above confirms minor trend reversal, a jump till 1.2320/1.2350.
On the lower side, any break below 1.2200 will drag the pair down till 1.21670/1.21320 in the short term.
It is good to buy only above 1.2255 with SL around 1.2200 for the TP of 1.2320/1.2350.
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