Cable has a clear double top at 1.6300.
Chart below
Price has moved away from the resistance level, and pulled back the 61.8% Fibonacci Level.
Chart below
There is further resistance at this level in the form of a double top on the 6o minute chart.
On the back of today news from Europe, a wave of USD strength is in the market.
After forcing price through the averages I am look for a short entry on a pull back.
Levels and chart below:
1st entry: 1.6070
2nd entry: 1.6080
Averaged entry: 1.6075
Stop Loss: 1.6105
Target: 1.5925 (5%)
I will update again if and when the trade is triggered.
Have a good evening
Regards
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