Cable sets itself up for an early morning rise. After a dip from New York trading session yesterday, the GBPUSD found its bearing from Asian trading hours which saw the pair traded up again to setup this morning opportunities.
Cable Set to Rise
The price chart shows a built up activity above the 23.6% of the Fibonacci levels, thus creating a falling wedge on the hourly timeframe. This confirm the the 15-, 30- and the 240-mins on the intraday.
However, we anticipate a breakout around the 1.4385/90 points. If this is achieved, we would expect to see 1.4460 and possibly the 1.4560. Our daily our target remain around the 1.4560 level, but if there is a breakdown we shall be seeing another retest of the 1.4170.
For now, our bias remain bullish and optimistic. Have a great day
Cable Set to Rise
The price chart shows a built up activity above the 23.6% of the Fibonacci levels, thus creating a falling wedge on the hourly timeframe. This confirm the the 15-, 30- and the 240-mins on the intraday.
However, we anticipate a breakout around the 1.4385/90 points. If this is achieved, we would expect to see 1.4460 and possibly the 1.4560. Our daily our target remain around the 1.4560 level, but if there is a breakdown we shall be seeing another retest of the 1.4170.
For now, our bias remain bullish and optimistic. Have a great day
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