ZLBT FX Select >>> June British Pound

JUNE CABLE

We are currently looking to test the downtrend line of a channel. We are generally comfortable trading in the 1.5500 to 1.4800 (shown in yellow).

If we CLOSE BELOW the 1.5050 level, I would SELL the contract.

1) Objective #1 is 1.4900
2) Objective #2 is 1.4790 (bottom of the comfort area and recent support)
3) Risk #1 would be 1.5340 (20 day moving average in orange)
4) Risk #2 would be 1.5400 (downtrend line)

If we CLOSE ABOVE the 1.5400 level, I would be a BUYER of the contract

A) Objective #1 is 1.5500 (top of the comfort area)
B) Objective #2 is 1.5610
C) Risk #1 would be 1.5300 (old resistance)
D) Risk #2 would be 1.5140 (recent support)