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Cablelong

GBPUSD Monthly Outlook 01/11/2017Cable has been respecting the ascending Monthly trend line as highlighted with lots of Higher highs being created. This month not only was the ascending trend line respected and rejected with a very long wick, we also closed above the Descending trend line. on the lover time frames we have a strong 0.618 retracement on the Daily. I think we could see the pair rise to test recent highs at the 1.34000 level and possibly even a retest of the 1.40400 area
Long
by Wonour
GBP/USD inches higher amid GDP reportMorning outlook - GBP/USD inches higher amid GDP report According to the Office for National Statistics, the temps of growth of British economy spiked to 0.4% in the third quarter. This news gave the cable an upside momentum, which it used to break through the upper trend-line of a dominant descending channel. As there are no significant UK or US data releases planned for today, bulls might use this lull to elevate the pair to the weekly R1 at 1.3306. In support of this assumption, there is need to take into account that some of the Pound traders are simultaneously following the ECB meeting and are trying to push the Sterling in parallel with the Euro. On the other hand, bears might use an area between the 1.3285 and 1.3290 marks to either halt or even turnaround the pair.
by UnknownUnicorn890690