FXstreet.com (Barcelona) - Cable has risen around 150 pips in the last two hours to reach 1.4972, highest since February 9. Along the day, GBP/USD has risen 0.19% to the currently 1.4920/40.
According to Stoyan Mihaylov, Analyst at DeltaStock, Cable is in a corrective movement: The pair is in a corrective phase, after bottoming at 1.3506. Trading is situated between the 50- and 200-day SMA, currently projected at 1.4259 and 1.6470. It is not clear enough if Monday's rise is actually the beginning of the expected uptrend towards 1.5301, so only a break above 1.4986 will confirm that such an upmove is already on the run.
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