Slobodan Drvenica
Windsor Brokers
Cable remains well supported at the start of the week and extends steep ascend into fifth consecutive day.
Bulls crack 1.3200 barrier again (following last attempt and false break higher on April 3) but is likely to face headwinds at this zone again as daily indicators are entering overbought zone and traders may pull the break ahead of release of UK labor data (Tuesday) and Inflation report (Wednesday) which provide fresh signals.
Targets above 1.3200 lay at 1.3434 (Sep 26 peak) and 1.3500 (round figure).
Initial support lays at 1.3119 (broken Fibo 76.4% of 1.3434/1.2099), 1.3061 (today’s low) and 1.3000 (psychological).
Res: 1.3200; 1.3325; 1.3398; 1.3434.
Sup: 1.3145; 1.3119; 1.3061; 1.3000.
Interested in GBP/USD technicals? Check out the key levels
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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