OPEN SELL GBP/USD @ 1.9790; SL at 1.9880; & TP at 1.9659 (Long Term)
From Daily Correlation, Sterling and Aussie are highly correlated. Technical Speaking MACD (12, 26, 9) just crossed upward above the "0" line at the same time Aussie forms a temperately bottom support. We believe short term retracement on both GBP/USD and AUD/USD are going to happen. Thus, 1.9800 might be the initial target of the relatively short term for Cable.
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