GBPUSD - Move through average targets 1.3492
|Contrary to yesterday's bearish call, Monday’s negative reaction from the 13 day mvg avg did not extend. Instead buying interest was renewed at marginally higher levels with the resulting gains taking CABLE, marginally, above the 13 day line. This move needs to be sustained but our intraday technical studies are positive and so our call for this morning is a Buy at 1.3400 but leaving room to also Buy any Dip to 1.3372. The risk is 1.3333 with an immediate target of 1.3422, May 24th top. A move through that point then exposes sentiment to 1.3448 and 1.3492, the 2 week high trade.
Above Average
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