FxWirePro:GBP/USD downside capped by 5 – day MA, good to buy on dips
Cable forms a temporary top around 1.29035 and showing a minor dip from the high. The pair declined till 1.27549 and is currently trading around 1.280105 0.03% higher. On the lower side, the pair downside capped by 5- da…
Cable forms a temporary top around 1.29035 and showing a minor dip from the high. The pair declined till 1.27549 and is currently trading around 1.280105 0.03% higher. On the lower side, the pair downside capped by 5- day MA at 1.2750 and any break below will drag the pair down till 1.2710 (23.6% retracement of 1.29035 and 1.21088)/1.2625 (200 –day MA).
Any break above the high made on Apr 18th 2017 will take the pair till 1.3000.
Short term bullish invalidation only below 1.23500.
It is good to buy on dips around 1.2760 with SL around 1.2700 for the TP of 1.2900/1.2945
