Rising within its range | 18 November 2013
18 November 2013, GBP/USD
Cable has risen back up to the 1.6110 range highs. There is the possibility of a rotation back down at this level – possibly targeting 1.5855 - but a break below 1.6050 would be required to confirm such a move, and in the absence of any major data out today it seems unlikely. What seems more likely is that the pair will continue higher, breaking above the 1.6110 highs, and moving up to the higher range-highs at 1.6250.
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.
