Cable looks set to squeeze further!

Back on the 16th the GBPUSD was the “Chart of the Day” as I warned the pair is set to squeeze higher. Today, the same applies as the stock market (S&P500) closed at all time highs which could continue to squeeze higher keeping downside pressure on the US Dollar and allow for the GBPUSD to finally reach the 1.3500 level we had targeted back on the 15th. The additional note I would like to add today is that the 50% retracement still resides at the 1.3500 level but now the 161% extension of the Dec 17th high to Dec 20th lows also come in at 1.3500. That “confluence” may be targeted now.

Blake Morrow