GBP crosses

Cable: Buying dips preferred during Asian session

The break above 1.5375 technical resistance opens the way up for further gains in the GBP/USD. The GBP is showing plenty of bullish promise on the crosses, with EUR/GBP looking to have plenty of scope to fall back towards .8430 and of course the GBP/AUD bullish momentum has really picked up.

The short-term technical target for cable is at 1.5600 and I like the risk-reward profile of buying near 1.5370 with stops below 1.5320 looking for 1.5570.

  1. Sean, i am waiting to fade EUR/GBP rallies today hope to get it during ECB 🙂 i prefer to fade rallies via crosses rather than directly fade through EUR/USD

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