GBP crosses/Technical Analysis/Trade Ideas

Cable looking well bid in early European trade

As I mentioned earlier, resistance in EUR/GBP above .8590 is also starting to look very solid indeed and with the possible double-bottom in cable, the GBP doesn’t look like such a bad bet.

Short-term resistance levels are close by in the cable at 1.5240.

 

  1. Hi Sean

    What do you think about the possibility of a double top at 1.5890 in the GBPAUD, with a squeeze down 1.5600/1.5550 level later this week?

  2. Certainly possible Keir but I must say I do prefer the double bottom story in cable! (talking my position). Maybe both could eventuate which would mean a sharp jump in store for the AUD/USD? But first GBP/AUD needs to break and hold below 15780

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