British Pound Bullish Against 2.0136

Commentary: We wrote yesterday that “a bullish bias is warranted against 2.0084, targeting a rally through 2.0366.” Risk can be moved to 2.0136 now as Cable is in a small third wave higher towards 2.0366. 2.0204 is near term support.

A drop below 2.0136 would negate the call for a rally through 2.0366 and suggest that price will drop below 2.0084.

Strategy: Remain Bullish, move risk to 2.0136 (from 2.0084), target TBD