CableGBP-USD @ 1.5997/99...Bullish. Might rise further
R: 1.6080-6100 / 1.6180-6200 / 1.6300
S: 1.5950 / 1.5900-5880 / 1.5820-00

 

Cable witnessed a sharp rise during the day. However, it has come off from its high of 1.6059 and is now trading just below 1.6000. The broader outlook remains bullish with strong Support in the broad 1.5950-00 region which is expected to hold in case if further downmove is seen from current levels in the coming sessions. A further rise to 1.6100-200 can be seen in the coming sessions/days.

Holding:
GBP 10K Long at 1.5898, TSL 1.5940 (up from 1.5790), TP 1.6080
As soon as the market trades 1.6030 bring TSL up to 1.5970 and as soon as the market trades 1.6070 thereafter bring TSL further up to 1.6010.

Limit Buy Order:
Buy GBP 10K at 1.5960, SL 1.5880, TP 1.6180