Cable out of 200 pips box ~ forex market monitor news
Cable has broken out of the 200 pips box and appears to be heading toward the next box. Price movement is simply a matter of habits. History keeps repeating itself over and over again.
Look at the candle between between 1.57147 and 1.58534 both on the way up and down. I single H4 candle. Also look at the candle on the way down from 1.60000 which closed on 1.56396 and the current candle which took which close outside the box.
If we break the resistance at 1.58535 our next destination is most likely the next zone between 1.58535 - 1.60000. If the resistance hold however, we have landing where the candle took of from i.e. 1.57000 - 1-55000
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