FxWirePro: Cable trades in narrow range , good to sell on rallies
GBP/USD has recovered from the low of 1.5423 (Aug 7th low) till 1.5658 . Cable has once again retreated from that level and is currently trading at 1.56135. Overall trend is still weak as long as resistance 1.5690 holds.…
GBP/USD has recovered from the low of 1.5423 (Aug 7th low) till 1.5658 . Cable has once again retreated from that level and is currently trading at 1.56135.
Overall trend is still weak as long as resistance 1.5690 holds.
On the lower side minor support is around 1.5580 and any break below targets 1.5525/1.5480/1.5455 in short term.
Any break above 1.5630 will extend gains till 1.5650/1.5690.
It is good to sell on rallies around 1.5650-60 with SL around 1.5690 for the TP of 1.5490/1.5465.
