Rebuy the cable from 1.2750-1.2693 towards 1.3137. | 21 Januari 2019
21 Januari 2019, GBP/USD
During the previous trading week, the cable rose tremendously, but has now pulled back to the lowerside. We expect the decline seen on Friday to be a mere correction and should not go beyond the zone 1.2750-1.2690. As long as this zone protects the lowerside, we're waiting for a clear bounce from the same zone to pick a long position towards 1.3137. This view can only be invalidated in case the price breaks below 1.2690, if this is the case, then we'll expect further momentum to the lowerside towards 1.2470 and may break lower towards 1.203.
Trade Recommendations:Rebuy the cable from 1.2750-1.2693 towards 1.3137.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
