The Cable has been on the side line for nearly eight weeks looking for a direction. With Brexit optimism building up, there could be a surge in price against the greenback. As we have seen a flattened ascending channel with a bounce on every touch of the trendline, There seems to be a decreasing risk of price falling to he lower side. This been said, I am willing to go long at the current market price as major technical indicators has also shown. Confluences; Ascending Trend RSI - 38 Brexit in 2days Price on Support for the 6th time in 8weeks This is my idea not a signal. Thoughts?
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