FxWirePro: GBP/USD trades higher, good to buy on dips
Cable has recovered sharply after hitting low of 1.28118 level on Jul 12th 2017. The pair has taken support near daily Kijun-Sen and jumped from that level. The pair broken minor resistance of 1.2925 and jumped till 1.29…
Cable has recovered sharply after hitting low of 1.28118 level on Jul 12th 2017. The pair has taken support near daily Kijun-Sen and jumped from that level.
The pair broken minor resistance of 1.2925 and jumped till 1.2970. Market awaits U.S CPI data for further direction. Any weakness in U.S CPI will take the cable till 1.30475/1.3100.
It has formed minor resistance around at 1.3030 in the previous week and any break above targets 1.3050. Any bullish continuation can be seen only above 1.31000.
On the lower side, near term support is around 1.2918 (daily Tenkan-Sen) and any break above 1.2870 (21- EMA)/1.2820 (55- EMA).It should break below daily Kijun-Sen at 1.2810 for further bearishness.
It is good to buy on dips 1.2935-40 with SL around 1.2870 for the TP of 1.3000/1.3030
