Sunday, 27 June 2010

Cable continues upwards


Cable managed to break through the 1.5 mark. If it can continue up (or retrace and bounce back off it again) then there's a good possibility that we could be looking at a continuation up to 1.529 or above.
The weekly chart has hit resistance at the median point, and is touching the weekly 20MA, so it just depends how optimistic and confident sterling buyers are feeling to help it continue upwards and break this resistance. It could be choppy while it's deciding whether to break this mark.
Let's see what happens....

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