Trading in a range | 19 November 2013
19 November 2013, GBP/USD
Cable surpassed the 1.6110 mini-range highs but then pulled back and has started to move back down. It is trading around the 1.6100 level currently but continues to be supported by its bullish 45° trend-line. There is a possibility it might fall to the range lows at 1.5855 - but a break below 1.6050 would be required to confirm such a move. Equally there is a possibility that the pair will continue higher, breaking back above the 1.6110 highs, and moving up to the higher range-highs at 1.6250, with confirmation coming from a move above 1.6155.
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.
