GBP/USD breaks trend line resistance , targets 1.2560
Major resistance - 1.2435 (trend line joining 1.34450 and 1.27500)
Cable breaks major trend line resistance at 1.2435 and jumped till 1.24719. It is currently trading around 1.24530.
The pair upside capped by 61.8% fibo level and any break above will take the cable till 1.25100 (Dec 16th high)/1.25677.
On the lower side , any break below 1.2414 (60- day EMA) will drag the pair down till 1.23550 (23.6% retracement of 1.19860 and 1.24719)/1.2300.
It is good to buy on dips around 1.2455-1.2460 with SL around 1.2415 for the TP of 1.2565
Cable breaks major trend line resistance at 1.2435 and jumped till 1.24719. It is currently trading around 1.24530.
The pair upside capped by 61.8% fibo level and any break above will take the cable till 1.25100 (Dec 16th high)/1.25677.
On the lower side , any break below 1.2414 (60- day EMA) will drag the pair down till 1.23550 (23.6% retracement of 1.19860 and 1.24719)/1.2300.
It is good to buy on dips around 1.2455-1.2460 with SL around 1.2415 for the TP of 1.2565
