Cable has been making higher highs and higher lows on the mid term time frame (4hr chart)
Chart below:
Price has broken up through the resistance at 1.5250 area and made a new high.
Price has now pulled back to this area and is showing signs of being supported above this area.
This move higher has brought the moving averages into alignment allowing for a long trade to be considered.
Chart below:
Chart below:
Should price break out of this range and move higher I will be looking for a long position above 1.52850 with a stop below.
I will update again should the break take place.
Regards
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