FxWirePro: GBP/USD trades higher as Brexit negotiations begins, good to buy on dips
Cable broken the ichimoku cloud top around at 1.27920 as forma Brexit negotiations with EU begins in Brussels today. The pair hits high of 1.28144 and is currently trading around 1.28056. On the lower side the pair’s maj…
Cable broken the ichimoku cloud top around at 1.27920 as forma Brexit negotiations with EU begins in Brussels today. The pair hits high of 1.28144 and is currently trading around 1.28056.
On the lower side the pair’s major support is around 1.2614 and any break below will drag the pair till , a decline till 1.2585/ (200- day MA)/1.2470 (61.8% retracement of 1.21088 and 1.30470) likely. The minor support is around 1.2780/1.2690.
The near term minor resistance is around 1.2840 (50% retracement of 1.30476 and 1.26359) and any break above will take the pair till 1.2885 (200 MA)/1.2978 (Jun 8th high). The pair should break above 1.3050 for further bullish continuation.
It is good to buy on dips around 1.2760-1.2765 with SL around 1.2690 for the TP of 1.2880/1.2970.
