GBP/USD – 1.2991
Most recent candlesticks pattern : N/A
Trend : Near term up
Tenkan-Sen level : 1.2968
Kijun-Sen level : 1.2968
Ichimoku cloud top : 1.2874
Ichimoku cloud bottom : 1.2841
Original strategy :
Buy at 1.2895, Target: 1.2995, Stop: 1.2860
Position : –
Target : –
Stop : –
New strategy :
Buy at 1.2895, Target: 1.2995, Stop: 1.2860
Position : –
Target : –
Stop : –
As cable has risen again after brief pullback, suggesting recent upmove is still in progress and may extend further gain towards recent high 1.3048, however, loss of near term upward momentum should prevent sharp move beyond 1.3075-80 today and reckon 1.4100 would hold on first testing, risk from there has increased for a retreat to take place later.
In view of this, we are looking to buy cable again on pullback as 1.2895-00 should limit downside. Below previous resistance at 1.2861 would defer and suggest a temporary top is formed instead, risk weakness to 1.2830-35 but support at 1.2794 should remain intact.
