Cable nudges to fresh high

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GBP/USD has ticked above the 1.5949 high, touching 1.5950.

Today’s gains form an outside day on the daily chart and come on a bounce from the 100-day moving average.

I don’t see much stopping cable from 1.60.

Author: Adam Button

Adam Button is the managing editor of ForexLiveâ„¢. He was previously the chief currency strategist at XForex and has also worked with Intermarket Strategy. Adam believes there's an edge in knowing every tidbit of news. He was formerly the head of the markets team at the Canadian Economic Press and is a graduate of Ryerson University. Adam lives in Montreal, follow him on Twitter: @FX_Button.

2012-11-21T20:01:58+0000

All|Americas|Market Rumors|Regions

Cable|GBP/USD

Adam Button

2 Comments

  1. Hi Adam, Do you think we’ll see 82.00 or below in USDJPY before the weekend? I have a short @ 81.60 and would like to get out as close to B/E as possible…

  2. Tough trade. You’ve got to have a stop. I suspect yen profit taking will dominate the next two days, so we could see a pullback. It might even get back to 81.60.

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