Morning Report

Cable was able to breach the pivotal resistance at 1.6720, nearing the main primary target levels at 1.6900. Trading stabilized within the minor ascending channel, where we expect it to carry the pair into a bullish move overintraday basisfor today, which targets 1.7040 - 1.7000 with chances of a minor bearish correction due to the negative pressures on momentum indicators. The bullish trend will prevail as far as the hourly closingholds above1.6700.

The trading range for today is among the key support at 1.6560 and the key resistance at 1.7200.

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

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RecommendationBased on the charts and explanations above our opinion is buying the pair at 1.6740 and targeting 1.6840 and stop loss below 1.6655, might be appropriate