GBP/USD takes trend line support near 1.5540, targets 1.5670
Cable is trading within narrow range 1.56771 and 1.55483 for the past three trading session.
Today it went up to 1.56168 in Asian session and pared its gains once European session started.
Overall trend is still bullish as long as support 1.5540 holds. Any break above confirms short term weakness, decline till 1.5480/1.5435 cannot be ruled out.
On the upside any break above 1.5600 will target 1.5630/1.56770/1.5690 in short term.
It is good to buy at dips around 1.5590 with SL around 1.5400 for the TP of 1.5670/1.5688.
Today it went up to 1.56168 in Asian session and pared its gains once European session started.
Overall trend is still bullish as long as support 1.5540 holds. Any break above confirms short term weakness, decline till 1.5480/1.5435 cannot be ruled out.
On the upside any break above 1.5600 will target 1.5630/1.56770/1.5690 in short term.
It is good to buy at dips around 1.5590 with SL around 1.5400 for the TP of 1.5670/1.5688.