Cable is establishing above 1.31 handle on Friday and eyes targets at 1.3212/43 (2020 high/Fibo 61.8% of 1.4376/1.1409) after bulls easily broke strong barriers at 1.3000/17 (psychological/Fibo 76.4% of 1.3514/1.1409) on Thursday. Strong bullish sentiment on weak dollar (charts signal further weakness of the greenback in August) and positive techs point to further advance, as the pair is on track for the second bullish week and the biggest monthly rally since May 2009. Strongly overbought daily studies require caution, as bulls may take a breather before resuming, but weekly close above 1.3000/17 pivots is needed to confirm strong bullish bias and keep immediate focus at the upside.

Res: 1.3144; 1.3199; 1.3112; 1.3243
Sup: 1.3100; 1.3074; 1.3017; 1.3000



Interested in GBP/USD technicals? Check out the key levels

    1. R3 1.3309
    2. R2 1.3206
    3. R1 1.3151
  1. PP 1.3048
    1. S1 1.2992
    2. S2 1.2889
    3. S3 1.2834


The information contained in this document was obtained from sources believed to be reliable, but its accuracy or completeness cannot be guaranteed. Any opinions expressed herein are in good faith, but are subject to change without notice. No liability accepted whatsoever for any direct or consequential loss arising from the use of this document.

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