Cable breaks below 1.5600 handle, targets 1.5480
Cable is trading within narrow range 1.56771 and 1.55483 for the past two trading session.
Today it went up to 1.56438 in Asian session and pared its gains once European session started.
Overall trend is still weak as long as resistance 1.5690 holds. Any break above confirms short term bullishness , jump till 1.5745/1.5800 cannot be ruled out .
On the downside any break below 1.5600 will drag the pair further down till 1.5570/1.55500/1.5525 in short term.
It is good to sell on rallies around 1.5595-560 with SL around 1.5650 for the TP of 1.5525/1.5465
Today it went up to 1.56438 in Asian session and pared its gains once European session started.
Overall trend is still weak as long as resistance 1.5690 holds. Any break above confirms short term bullishness , jump till 1.5745/1.5800 cannot be ruled out .
On the downside any break below 1.5600 will drag the pair further down till 1.5570/1.55500/1.5525 in short term.
It is good to sell on rallies around 1.5595-560 with SL around 1.5650 for the TP of 1.5525/1.5465