(1,5547) The CABLE still confirmed a positive closing also last night, however still below the 100 days line despite the 1,56 overshooting!! A daily closing tonight below 1,5526 will confirm a s/t top! The monthly closing was strong well above the top of the previous month confirming therefore the month reversal!! The indicators of the daily chart are still well positive but still close to the overbought area and however showing potential negative reversals; those of the monthly chart settled at the line!! The indicators of the s/t charts are still showing a mixed picture suggesting some consolidation/ correction. In the hourly chart we have still potential positive reversals suggesting a possible s/t target at 1,5649! While below 1,5575 we favour however a deeper correction with the 200 hours line at 1,5409 the attraction!! We are still waiting for higher levels to sell, but only close to the 200 days line!
Click here to read the full report: GBPUSD 05.02
Future Trend