Cable breaks major resistance 1.5630, targets 1.5670/1.5745 is
GBP/USD breaks major resistance 1.5630 after release of better than expected positive money supply and mortgage approvals in the UK.
Technically it has broken major resistance 1.5630 and any break above would extend gains till 1.5670/1.5745 in short term.
Intraday trend is still bullish as long as support 1.5600 (7 day 4 H EMA) holds.
On the downside any break below 1.5600 will drag the apir further down till 1.5580/1.5550 in short term.
It is good to buy at declines at 1.56325-30 with SL around 1.5600 for the TP of 1.5670/1.5745.
Technically it has broken major resistance 1.5630 and any break above would extend gains till 1.5670/1.5745 in short term.
Intraday trend is still bullish as long as support 1.5600 (7 day 4 H EMA) holds.
On the downside any break below 1.5600 will drag the apir further down till 1.5580/1.5550 in short term.
It is good to buy at declines at 1.56325-30 with SL around 1.5600 for the TP of 1.5670/1.5745.