Cable...
13:37 GBP/USD: US Bank Re-Establishes Long Position, Targeting 1.5535 London, December 2. A US bank"s technical team re-established a long GBP/USD position at 1.4935 earlier today (within the past 90 minutes), with a stop loss set at 1.4750 and a "minimum target" of 1.5535 (Nov 25 high). The name-in-the-frame took profit on a prior GBP/USD long position--established at 1.4998 at the start of last week, at 1.5275 seven days ago (Nov 25). GBP/USD plumbed an 11-day low of 1.4776 during the London morning today. Robert.Howard@thomsonreuters.com
The weekly and dailies MA charts really looked like they want to change to an uptrend at the end of last week. Not sure how much impact BOE rate change will have later this week.
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