Morning Report

The Cable continued to incline to maintain trading above 1.6600 to end close on the daily charts above it supporting the expected uptrend on the intraday and short terms to reach 1.6740. We see trading is within a bullish channel on the short term to take the pair to 1.6970 to near the current short term target at 1.7000, as far as 1.6560 remains intact. The stochastic indicator is still being pressured to the downside, which may result in volatility to gather bullish momentum.

The trading range for today is among the key support at 1.6400 and the key resistance at 1.6970

The general trend is to the upside as far as 1.4840 remains intact with targets at 1.7100

RecommendationBased on the charts and explanations above, our opinion is buying the pair from 1.6630 to 1.6740 and stop loss below 1.6560 might be appropriate.