Slobodan Drvenica
Windsor Brokers
GBP/USD
Cable eases from new highest levels since March 2022 on Monday, suggesting that bulls may take breather after 3.6% advance in past two weeks and strong bullish acceleration last Friday (almost 1% daily gain).
Strongly overbought daily studies prompt traders to collect profit, though correction is likely to be limited as the uptrend is strong.
Higher base at 1.3080 marks initial support, while extended dips should be contained by solid supports at 1.3000 zone (38.2% of 1.2664/1.3229 / 10DMA / psychological) and mark a healthy correction, before fresh push higher and potential attack at 1.3328 (Fibo 76.4% of 1.4249/1.0348).
Res: 1.3229; 1.3279; 1.3300; 1.3328.
Sup: 1.3129; 1.3044; 1.3000; 1.2947.
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The information contained in this document was obtained from sources believed to be reliable, but its accuracy or completeness cannot be guaranteed. Any opinions expressed herein are in good faith, but are subject to change without notice. No liability accepted whatsoever for any direct or consequential loss arising from the use of this document.
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