Mid-day report

Cable rushed sharply against greenback and breached the key resistance level at 1.6330, without the minor downside correctionmentioned this morning;this moveopenedthe way to assure the upside reversal. Our expectations from this morning remain as is, and the upside short term bullish wave is now valid after this breach, and now the primary target is around 1.6560, while it is vital that trading remains intact above 1.6180 for this upside waveto continue.

The trading range for today is among the key support at 1.5870 and the key resistance at 1.6555.

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

Support1.63201.62401.61801.61551.6095
Resistance1.63801.64551.65051.65601.6610
RecommendationOur morning expectation remains valid