FXWW News/GBP crosses/Technical Analysis/Trade Ideas

Cable: Strong technical support at 1.5155/80

  • The 61.8% retracement of the move from 1.4830 to 1.5750 comes in at 1.5180 (see chart).
  • The double bottom at 1.5000 has a neckline at 1.5155.

If these support levels can hold firm for a few days this would give cable bulls an excellent risk-reward trade opportunity.

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