Quick look: Meanwhile Cable is having a good run

Today was all about EUR/USD and other pairs including Cable received little attention from the traders/wires.

But let us have quick look at GBP/USD hourly chart

GBPUSD H1 (03-11-2016 0003)

  • A bullish break from the flag indicates continuation of the corrective rally that began from 1.3835.
  • Prices took out 1.4284 (which was the level where we had noted price-RSI divergence earlier this week)
  • Hence, the pair is now buy on dips.
  • I would not mind hitting the buy button around 1.4252 for a target of 1.4330

 

 

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