GBP/USD - Support from "Cable"
I am looking to go long on the trade as it is on a trend line and on a support line. On the hour chart, you will find that the price has started to rally but one must also keep in mind that there is some high impact news that will be released later today that will affect the dollar...
TRADE SUMMARY:
- ENTRY (buy): NOW!
- STOPLOSS: 1.2600
- TARGET PRICE 1: 1.3100
- TARGET PRICE 2: 1.3400
Remember... trade responsibly, your capital is at risk and trading can lead to capital losses.
Until next time, I wish you profitable trading.
All charts sourced: Bloomberg
Odwa Magwentshu | Trading Specialist at GT247.com
Disclaimer: Any opinions, news, research, analyses, prices, or other information contained within this research is provided as general market commentary, and does not constitute investment advice. GT247.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information. The content contained within is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
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