Today we will devote our analysis to the cable. There have been major movements and high volatility here in recent years due to Brexit.
The currency pair is currently in a solid upward trend. This trend began in mid-March 2020 in the corona crisis. Here we could see prices of 1.15 in the low. The cable is currently trading at 1.3653.
In September 2020 a trend line could be formed which has now been tested and respected several times. In addition, there is a resistance at 1.3692 which was started for the fourth time today. Thus an ascending triangular formation was created.
If the trendline holds and the support at 1.3454 is not sustainably broken we could see new highs above 1.3692.
