| GBP/USDChart Levels: Support 1.6000…1.5950…1.5800. Resistance 1.6050..1.6100…1.62 | ||||
| Strategy | Entry | Stop | T1 | T2 |
| Weekly: long | 1.5900 | 1.5790 | 1.6100 | 1.6200 |
This week Cable will be trading in the range 1.5900 – 1.6200. Since curves of moving averages mA (150) and mA (200) show bearish combination, major market participants are waiting for more of a movement down than up. Nevertheless, oscillators show bullish signal. Previous key resistance level of 1.5800 was successfully broken, so the market can be bought on pullbacks back down to around 1.5900 or even 1.5850. Next bullish targets 1.6100 and 1.6200 may present selling opportunities.
