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And back up goes cable…. — Forex Stock Trade

And back up goes cable….

The speech ends and the price rebounds back above its support turned resistance levelsThe UK PMs speech ended and the sale of seen through his speech has been reversed. The price is back above 100 hour MA (at 1.35273) and the sellers turned to buyers. The 100 bar MA on the 5-minute chart won the rally until now.

As mentioned previously, there are a lot of «stuff» and all that stuff extends into the weekend. As the market makes its way through the day to the close, traders are going to take pictures. The move below the 100 hour MA was down, but failing to extend it to other objectives and moving back above the 100 hour MA is not down but more optimistic. It is the negotiation. This is the risk in a day like today.
If you are trading, to choose the points to get to the technical level. The target levels in the direction of the trade. If they are large. If they fail, get out. The 100 hour (and the 1.3532 level) were the key levels for bullish or bearish bias for today and the rest.
Since then, we are back above the 100 and 200 bar MAs at 1.35617 and 1.35701, respectively, are the targets to be achieved and through followed by the closing of yesterday, 1.35793. Get above them, and the pair will be to look to the top for the day and 1.3600.
A move below the 1.35274-32 is more bearish again.

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