Cable has broken out above its range highs and is expected now to rally higher. After the initial breakout yesterday it came back to retest the top of the range at 1.6255, but has since pushed back up again. The bullish count calculated using the new column of 24 green crosses at the bottom of the last pull-back, generates an upside target of 1.6680, which also roughly corresponds to the width of the sideways consolidation extrapolated higher, a more conventional way of making a target. However, a nearer-term objective, would be resistance at 1.6430.
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