FXWW News/GBP crosses/Trade Ideas

Cable: Play edges of wide 1.5150/1.5400 range

I don’t think we will see either side of this range tonight but you just never know. If we get within 30/40 pips of either side then we will start to see some reasonable ‘value’ levels. The short-term trend is bearish but the medium-term outlook is reasonably bullish from a technical perspective after the double-bottom at 1.5000.

I’m still long but will definitely play swings if we see either of these edges.

  1. Hi Sean, expecting that cable will fall till EURGBP reaches 0.859 recent range high. By that time we may reach 1.518, the 61.8 fib of the move from 1.483 to 1.575.

Leave a Reply

Your email address will not be published. Required fields are marked *