FxWirePro: GBP/USD downside capped by daily Tenkan-Sen, good to buy on dips
Cable formed a temporary top around 1.30475 and declined slightly from the level on account of renewed worries over Brexit negotiations. GBP/USD shown minor profit booking after hitting 7- month high. The pair came down …
Cable formed a temporary top around 1.30475 and declined slightly from the level on account of renewed worries over Brexit negotiations.
GBP/USD shown minor profit booking after hitting 7- month high. The pair came down till 1.29650 and recovered once again slightly from that level. On the higher side, any close above 1.30500 confirms bullish continuation and a jump till 1.3088/13120 likely.
Cable major support is around 1.2965 (resistance turned into support) and any break below will drag the pair down till 1.2900/1.2860.Any short term weakness can be seen only below this level. Any violation below targets 1.2775 (daily Kijun-Sen)/1.2705.
It is good to buy on dips around 1.3000 with SL around 1.2945 for the TP of 1.3120.
