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FxWirePro: GBP/USD takes support near 10-day MA, good to buy on dips

Monday, August 22, 2016 9:50 AM UTC

Major support – 1.3012 (10 day MA).
Cable clocked a fresh two-week high at 1.31853 on Friday and started to decline from that level.
The pair has declined till 1.30228 and taken support near 10 – day MA. It is currently trading around 1.31099.
It should close below 1.3012 (10 –day MA) for major weakness .Any break below 1.3100 will drag the pair till 1.2960/1.2855.
On the higher side, the pair should break above 1.3185 and any comfortable break above that level will take the pair to next level till 1.3310 (23.6% retracement of 1.51086 and 1.27893).

It is good to buy on dips around 1.3085-.3090 with SL around 1.3010 for the TP of 1.3185/1.3310

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FxWirePro: GBP/USD takes support near 10-day MA, good to buy on dips

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