I mentioned in a piece yesterday that i was looking for Cable to head to 1.4800 and possibly 1.5000 and we have paused at the first target in US trading overnight. As you can see on the daily chart, a break above 1.4780/00 should see 1.5000 and a break of this level brings the 1.5350 level into focus.
Unfortunately we did not dip back to the levels i was looking at to get set yesterday before we exploded higher, so we will have another go today. I think we could pull back to mid to low 1.46’s on a dip so would be happy to leave orders at 1.4645 and 1.4610 with a stop below 1.4520. It is also worthwhile buying the break of 1.4800 and running a stop below 1.4700.
