FXstreet.com (Barcelona) - After finding support at 1.6330 in the early European session, the Cable has risen to levels above 1.6400 and it has posted 1.6473 as new 1-week high. Currently the pair is trading around 1.6435/45, 0.80% above today's opening price.
According to Carol Harmer, analyst at Charmer Charts.com, If buyers break 1.6360, short term objective will be 1.6435: "If buyers achieve this they will march on, wiping the sellers to one side and lead this higher with 1.6435 the short term objective. Small profit taking here sees it cap in the short term. However a break above here keeps Cable onwards and upwards, with resistance then at 1.6672/90 looking the likely target."
For more information, read our latest forex news.
