GBP/USD trades above 1.27000, jump till 1.2800 possible
Major resistance – 1.2700 Major support – 1.26000 Cable breaks the high of 1.26950 on Friday and jumped till 1.27371. It is currently trading around 1.27025. Short term trend is still bullish as long as support 1.26000 h…
Cable breaks the high of 1.26950 on Friday and jumped till 1.27371. It is currently trading around 1.27025.
Short term trend is still bullish as long as support 1.26000 holds.
The temporary top formed at 1.26957 (Dec 2nd high) will be acting as major trend reversal level. Any break above will take the pair till 1.2745/1.2800. The minor resistance is at 1.2600.
On the lower side, any break below 1.26000 will drag the pair down till 1.2550/1.2500.Minor trend reversal only below 1.2300.
It is good to buy on dips around 1.2660 with SL around for the TP of 1.2780/1.2800
