Part 2 The Cable Pair - The British Island Rate
Cable - GbpUsd Rate Looks set to spring higher from 1.2204 at Support Level just slightly short off the 1.2184 mark as advised - Although as i write Price appears to be pulling back a shade lower for now. - Expected Outcome is that the Rate will bounce from these Support Levels with Higher Targets nominated from 1.2890 & towards 1.2958 at a Closed Bar - Which is the 38% percent bar on the monthly chart cycle high - i can only anticipate that my view will be respected by the market participant and that my Live Contact Cal is obliged through the interbank system. Stoploss placement as always just below the Support Level at 1.2184 may need a slight adjustment whilst the trade progresses.
Nota
Cable - Gbpusd Rate from Spot Price at 1.2700 & present Resistance Level I expect A possible Support Level at 1.2450 then the re-occurring phase onto 1.2950 Highs at a Secure Resistance Bar and the Reversal Bar Level.Nota
17/10/2019 Trade Closed as Target Reached at 1.2950
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