GBP/USD Technical Analysis

(1,5227) The CABLE failed to extend the move up confirming instead a session of consolidation interior Friday’s range forming a new inside day with 1,5375 – 1,5185 the levels to follow in the coming hours. While above 1,52 on a daily closing we expect further strength for the CABLE. The indicators of the daily chart are still well positive however already showing potential negative reversals; those of the weekly one are still well negative. The indicators of the s/t charts are aldy turned mixed suggesting some consolidation. Possible a return toward the 200 hours line, now found at 1,5204 where we expect decent support and from where we should be able to see a resumption of the move up. An hourly closing above 1,5300 will instead resume directly the move up suggesting a new s/t target at 1,5399!! We stay long with the stop at 1,5195.

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