Hello Traders, I’m Mani and I’m the writer of Trade 77 section, please follow me on twitter for further updates.
200sma on the four hour chart is a strong resistant for Cable and we can see price has rejected from there 4 times from the past December. Last week Greenback’s strength was clear but Cable was the only pair which didn’t plunge against USD but before taking any long setups I want to see break of the H4 200sma:
Again I want to mention that I like short setups instead of long ones for now and beware of 1.5350 great support area.
In the way to the upside after break of H4 200sma and the daily trendline in the figure below then price could reach 1.5900 and then 1.6000 as ultimate targets.
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Winner’s Edge Trading, as seen on: