BabyPips.com FX-Men Team
BabyPips.com
GBP/USD: 1-hour
Here's a sweet trend play on Cable. The pair is lollygagging at the 1.5050 minor psychological handle, which right smack at a rising channel level on the 1-hour time frame. Not only that, but Stochastic is also chillin’ like a villain on the oversold territory. Is it time for the pair to bounce? A long trade at current levels could get you a good reward-to-risk ratio if you think that Cable would reach the channel resistance at 1.5300. If you’re one of them pound bears though, then you could also wait for a move lower and a downside breakout on the setup
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