All though there was USD strength in the market last week, Cable has remained in a supported market.
The 4 hour chart shows trend line support below and price has put in a higher high at 1.6060.
Chart below.
Price has broken back above the averages and pivot points and made an immediate higher high on the 60 minute time frame.
I am looking to enter a long position should we get a pull back to the averages with a stop loss below the Daily 20 EMA.
Chart and levels below.
Entry: 1.5890
Stop: 1.5865
Target: 1.6015
I will update later as the trade develops.
Regards
Scott
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