The Cable broke the support provided by trend line originated back in April; the break has been steep and decise and now a rally took prices back to 1.5500 level. A retest of this area as resistance could trigger a shorting opportunity; Stochastic is already overbought and is starting to turn lower. Should it print any bearish sign along with some candlestick pattern (pin bar, double top on lower time frame...) a short trade could worth a shot.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.