By ForexMansion.com
Cable has been trading water between 1.60 and 1.63 for weeks now. However, this last run looks more bullish as far as the candles are concerned. In order to continue to the upside in this pair, we will want to see a daily close above the 1.6350 area, and a continuation. As long as we hold above the 1.60 area, this pair should be thought of as bullish, albeit grindingly so.
A break above the 1.63 area should clear the way for a longer-term move to 1.68-1.70, while a break below the 1.60 area should clear the way to much lower – perhaps the 1.55 handle.
