FXWW News/GBP crosses

Cable: Adding to longs, bullish break likely

I’ve been trading the cable range nicely for the last few days and I feel that we may be about to get a bullish break. The market has been dumping GBP longs against the USD in particular (but also against the CAD) but I feel we may be about to get a mini reversal.

I’ve increased my long position and will exit the strategy entirely below 1.6530, roughly where my average entry now lies. My target for this trade is initially at 1.6750.

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