The cable has been on the uptrend, breaking a few of important resistance levels. At late Asian session today( April 1), the cable is approaching the 76.4% retracement.
My first trade for today is at vertical line 1 (the chart above) as at 1.5233 there is a divergence between price and MACD. Furtheremore price is govern my the resistance of uptrend line and both lags are at the top level. A small head and shoulder pattern is also formed.
Target price at support early Asian session at 1.5181.
Second entry at vertical line 2 with the blue lag crossing the 15 level and MACD line crossing the trigger line.
Target price at the top of the uptrend channel. Major resistance level at 1.5242 i.e. the 76.4 % retracement and the magenta color uptrend.
