In the daily chart, GBP/USD looks bullish. We will give you reasons
as to why we think buying the dips is the best idea for Cable Traders.
Firstly, the key level around 1.25 was successfully defended by the buyers.
The price has also climbed back above the 100-day exponential moving average
level, which is a bullish sign.
The immediate resistance is at the 1.2630 level which if broken will soon take the
price toward 1.27. We recommend buying the dips in GBP/USD if price falls to
the 1.2550 level soon.
as to why we think buying the dips is the best idea for Cable Traders.
Firstly, the key level around 1.25 was successfully defended by the buyers.
The price has also climbed back above the 100-day exponential moving average
level, which is a bullish sign.
The immediate resistance is at the 1.2630 level which if broken will soon take the
price toward 1.27. We recommend buying the dips in GBP/USD if price falls to
the 1.2550 level soon.