FxWirePro: GBP/USD downside capped by 21- EMA, good to buy on dips
Cable has taken support near 21- day EMA at 1.29300 and recovered sharply from that level. It is currently trading around 1.30365. On the higher side, the pair is facing major resistance around 1.3130 and any break above…
Cable has taken support near 21- day EMA at 1.29300 and recovered sharply from that level. It is currently trading around 1.30365.
On the higher side, the pair is facing major resistance around 1.3130 and any break above confirms bullish continuation. The near term resistance is around 1.30618.
Technically, near term support is around 1.2930 (21- day MA) and any break below will drag the pair till 1.2857 (daily Kijun-Sen)/1.28118 (Jul 12th low).
It is good to buy on dips around 1.2980 with SL around 1.2930 for the TP of 1.3130/1.3200.
