Why the Cable could be on the up
I am long Cable from 1.5950 with a very short stop below. Here I publish my reasoning based on a simple analysis of the price action and the diagonal lines of movement. The upper level was never properly tested after the referendum and I reason that there are still sellers lurking....
Also see where the axis of intersection occurs just above the 63 level? If price gets above that then there's no reason not to push on.
Also see where the axis of intersection occurs just above the 63 level? If price gets above that then there's no reason not to push on.
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