Just as in euro, the cable appears to be gaining ahead of the US Mid term election results. We went long following the bounce from 1.26941 and is still holding onto this position, our expectations is that the price should continue to the upper side with an ideal take profit at 1.33059. Should the price break above this level, then further move to the upper side with the next ideal target at 1.38745. And on the bears side, in case of a break below 1.26941, then this will be a good place to look for a long term short position towards.
We’re long towards 1.33059.