Forex Trading News
- The 1.4675 level that the Cable reached last night is pretty important as far as its immediate future goes. As the attached daily GBP/USD chart shows, the top of the downward sloping channel (yellow lines) comes in right around that 1.4675 level which makes me think that if we fail there we head back to 1.4150, but if we can take out 1.4675 then we should initially see 1.5000 if not retest the 1.5200 region which is close to where the 100 day MA comes in.
- At present levels i really do not have any interest but would be happy to pick up Cable on dips back to 1.4300 with a stop below 1.4150 for a move to 1.5000 if not 1.5200.