FXstreet.com (Barcelona) - After reaching 1.5160, fresh 4-months high and falls to 1.5030, the Cable has risen around 70 pips to be back above 1.5100 level. Currently the pair is trading around 1.5115/25 0.60% above its opening level.
Valeria Bednarik, FXstreet.com says: Pair seems a bit exhausted to the upside, and ready for a downside correction in the hourly charts, probable bearish engulfing in the hourly, yet as long as the pair remains above 1.5000, consider bullish bias intact. Tough congestion zone around 1.5115 will be key for today's close. Daily candle opening above will confirm the bullish longer term continuation. Support levels: 1.5085 1.5036 1.5000. Resistance levels: 1.5115 1.5160 1.5200.
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