WEEKLY TECHINCAL OUTLOOK ON CABLE:

Deciding on the way that you want to trade ‘The Cable’, this will walk you through a way of trading ranges. GDP to be announced just 24 hours away from now and testing a key resistance of 1.5400, a reversal in Cable’s move is expected.

The weekly chart suggests a good move taken from the bottom and bouncing to 1.5400. Cable looks like respecting these levels. GDP is expected at 0.6% as compared to previous 0.3%. For Cable bulls it might be a bad day and retracement can extend up to 1.5100.

What to do?

1.5400 good resistances to short cable and breakout of this will suggest further bullishness in GBPUSD.

ENOJY TRADING THE CABLE! J


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