The momentum appears to be clearly bullish on the Cable over the middle term (weekly view).
The pair has found some strong support on top of 1,53 a few weeks ago. A break above 1,62 would now expose 1,66.
We will be carefull though as a strong bounce is often followed by a period of consolidation or retracement. We will keep a close eye to the 1,59 area. A break below this level would expose further setback despite a overall bullish outlook.
Provided by atf-forex-trading.com