Cable looking to Breakout
After spending much of June confined in an 800 pip range, GBP/USD look ready to move higher. A daily close above the 1.6661 June 3 high would confirm this move.
Cable is currently trading above its daily 200 SMA and the daily uptrend seems to be firmly entrenched. Drop down to a 4-hour chart to look for better risk to reward entries. Limits may be set for a 1:2 risk to reward with stops in the 1.6200 area.
