Cable: Brexit is losing momentum. SMA200 next.

٢٦ أبريل ٢٠١٦

Cable quickly approaches two month high after 3 day of rally.
The rally of Cable is unusual because UK data performed very bad.
We have three resistance Cable broke them:
- SMA100+SMA50
- Descending trend line (blue line)
- Long term descending trend line (red line )
Major resistance levels were broken, and this is a significant signal we can't ignore.
GBPUSD denied Fundamental.
Someone worried about Brexit, but the fear was diminished recently.
Nearly 100% anti-Brexit will win, and support Brexit side is losing momentum. UK will stay in EZ . Surely,
Hence, we see traders are reducing short positions of GBPUSD.
SMA200 likely is the next target of Cable : 1.4900
That why I buy GBPUSD at 1.4640
It's a good trade I recommend to traders.

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