Wednesday, August 27, 2014

Trade Idea: GBP/USD - Buy at 1.6470

Although cable has rebounded again after holding above support at 1.6537, break of 1.6600-05 is needed to suggest a temporary low is possibly formed, bring retracement of recent decline to 1.6650-55 but resistance at 1.6679 should hold from here. Below said support would extend recent decline to 1.6505-10



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