Morning Report

The cable was successful in assuring that it traded within an ascending channel, which was clear in last Friday's report, where it currently is facing strong resistance at 1.6730. Meanwhile, negative signs are appearing through momentum indicators and which could pressure the pair to achieve minor bearish movement and build its base on the main support at 1.6650 and then head to the upside to breach the mentioned resistance to pave the way to target 1.6900 and then 1.7000. The continuation of the possible bullish trend for today will require 1.6565 to remain intact.

The trading range for today is among the key support at 1.6465 and the key resistance at 1.7000.

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

Monthly Report

RecommendationBased on the charts and explanations above our opinion is buying the pair at 1.6650 and targeting 1.6790 and stop loss below 1.6565, might be appropriate